Sumitomo Mitsui Trust Group Inc. Purchases 650,059 Shares of Airbnb, Inc. $ABNB

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 55.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,829,731 shares of the company’s stock after buying an additional 650,059 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Airbnb were worth $242,147,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Kentucky Trust Co purchased a new stake in Airbnb during the second quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after buying an additional 83 shares during the last quarter. Concord Wealth Partners purchased a new stake in Airbnb during the second quarter worth about $28,000. Stonebridge Financial Group LLC increased its holdings in Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after buying an additional 106 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock worth $31,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, October 13th. The shares were sold at an average price of $119.22, for a total value of $28,135,920.00. Following the transaction, the director directly owned 704,015 shares of the company’s stock, valued at $83,932,668.30. The trade was a 25.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $124.26, for a total value of $74,556.00. Following the completion of the sale, the chief technology officer owned 197,206 shares of the company’s stock, valued at approximately $24,504,817.56. This trade represents a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,425,876 shares of company stock worth $177,336,982. 27.91% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on ABNB shares. Morgan Stanley decreased their price objective on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, August 7th. UBS Group decreased their price objective on shares of Airbnb from $148.00 to $145.00 and set a “neutral” rating for the company in a report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Airbnb in a research note on Friday. Wedbush reduced their target price on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Finally, BTIG Research reiterated a “neutral” rating on shares of Airbnb in a research note on Tuesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $141.70.

Airbnb Trading Up 0.5%

ABNB stock opened at $127.99 on Friday. The firm has a 50 day moving average of $124.48 and a 200-day moving average of $127.84. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The firm has a market capitalization of $79.54 billion, a P/E ratio of 30.99, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the business earned $0.86 earnings per share. Airbnb’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Airbnb Company 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.