Sumitomo Life Insurance Co. Raises Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

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

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ascent Group LLC bought a new stake in Airbnb during the second quarter valued at $211,000. Algert Global LLC purchased a new stake in shares of Airbnb in the 2nd quarter valued at about $374,000. NewEdge Advisors LLC boosted its position in shares of Airbnb by 4.9% during the 2nd quarter. NewEdge Advisors LLC now owns 18,255 shares of the company’s stock valued at $2,768,000 after acquiring an additional 845 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Airbnb by 13.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 2,442 shares of the company’s stock valued at $370,000 after acquiring an additional 282 shares during the last quarter. Finally, Aristides Capital LLC grew its holdings in shares of Airbnb by 11.2% during the second quarter. Aristides Capital LLC now owns 9,950 shares of the company’s stock worth $1,509,000 after purchasing an additional 1,000 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the sale, the insider now directly owns 164,850 shares of the company’s stock, valued at $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $133.19, for a total value of $5,122,620.59. Following the completion of the sale, the chief executive officer now owns 12,460,447 shares of the company’s stock, valued at $1,659,606,935.93. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,157,308 shares of company stock worth $153,981,848 over the last 90 days. 27.83% of the stock is currently owned by insiders.

Airbnb Trading Up 1.6 %

NASDAQ:ABNB opened at $131.05 on Wednesday. The firm has a market capitalization of $83.08 billion, a P/E ratio of 45.98, a PEG ratio of 1.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company’s 50-day simple moving average is $133.90 and its 200 day simple moving average is $130.87.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm earned $2.39 EPS. As a group, analysts forecast that Airbnb, Inc. will post 3.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABNB shares. Evercore ISI lifted their target price on shares of Airbnb to $155.00 and gave the company a “hold” rating in a research report on Wednesday, January 15th. Wells Fargo & Company dropped their price objective on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a report on Thursday, January 16th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a research note on Monday, October 7th. Barclays lifted their price target on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Finally, Citigroup increased their price objective on Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $139.63.

About Airbnb

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.