Corebridge Financial Inc. Buys 4,016 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Corebridge Financial Inc. lifted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 151,858 shares of the company’s stock after buying an additional 4,016 shares during the period. Corebridge Financial Inc.’s holdings in Airbnb were worth $19,956,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Airbnb during the fourth quarter valued at $25,000. Berbice Capital Management LLC purchased a new stake in Airbnb in the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at approximately $44,000. Cromwell Holdings LLC raised its holdings in shares of Airbnb by 82.5% during the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock valued at $49,000 after acquiring an additional 170 shares during the last quarter. Finally, Quarry LP acquired a new stake in Airbnb in the 3rd quarter valued at about $55,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Trading Up 0.8 %

Airbnb stock opened at $129.82 on Tuesday. The firm has a 50 day simple moving average of $135.74 and a 200-day simple moving average of $133.53. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.00. The stock has a market capitalization of $81.86 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. As a group, equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ABNB shares. Canaccord Genuity Group boosted their target price on Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company dropped their target price 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. Barclays increased their price objective on shares of Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, February 14th. B. Riley upped their target price on shares of Airbnb from $131.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Bank of America lifted 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. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $147.82.

Insider Buying and Selling at Airbnb

In related news, CEO Brian Chesky sold 38,461 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $135.82, for a total value of $5,223,773.02. Following the completion of the sale, the chief executive officer now directly owns 12,498,908 shares in the company, valued at approximately $1,697,601,684.56. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nathan Blecharczyk sold 183,078 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $158.00, for a total value of $28,926,324.00. Following the transaction, the insider now owns 164,850 shares in the company, valued at approximately $26,046,300. This trade represents a 52.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,055,909 shares of company stock worth $289,763,290. 27.83% of the stock is currently owned by company insiders.

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.