Sumitomo Life Insurance Co. Purchases 13,122 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Sumitomo Life Insurance Co. raised its position in Airbnb, Inc. (NASDAQ:ABNB) by 27.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,222 shares of the company’s stock after acquiring an additional 13,122 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Airbnb were worth $8,045,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ABNB. R Squared Ltd purchased a new stake in shares of Airbnb during the 4th quarter valued at about $180,000. Cascade Investment Advisors Inc. grew its position in Airbnb by 18.4% during the fourth quarter. Cascade Investment Advisors Inc. now owns 11,480 shares of the company’s stock valued at $1,509,000 after buying an additional 1,780 shares during the period. KBC Group NV increased its holdings in Airbnb by 47.9% during the fourth quarter. KBC Group NV now owns 128,054 shares of the company’s stock valued at $16,828,000 after buying an additional 41,446 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Airbnb by 13.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 2,549 shares of the company’s stock valued at $335,000 after buying an additional 309 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its position in Airbnb by 59.3% in the fourth quarter. Toth Financial Advisory Corp now owns 696 shares of the company’s stock worth $91,000 after acquiring an additional 259 shares during the period. Institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

Airbnb stock opened at $131.05 on Wednesday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $133.90 and a 200-day moving average price of $130.87. The firm has a market capitalization of $83.08 billion, a PE ratio of 45.98, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period in the previous year, the business earned $2.39 EPS. As a group, equities research analysts forecast that Airbnb, Inc. will post 3.98 EPS for the current year.

Wall Street Analyst Weigh In

ABNB has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of Airbnb in a research note on Monday, December 16th. Bank of America raised their price target on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Benchmark reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research note on Friday, November 8th. Finally, UBS Group lifted their target price on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $139.63.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now owns 164,850 shares in the company, valued at $21,466,767. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $135.47, for a total transaction of $94,829.00. Following the completion of the transaction, the chief technology officer now owns 183,314 shares in the company, valued at $24,833,547.58. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,157,308 shares of company stock worth $153,981,848 in the last quarter. 27.83% of the stock is owned by company insiders.

Airbnb Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.