DnB Asset Management AS Boosts Stake in Airbnb, Inc. (NASDAQ:ABNB)

DnB Asset Management AS raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,350 shares of the company’s stock after buying an additional 4,409 shares during the quarter. DnB Asset Management AS’s holdings in Airbnb were worth $10,427,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ABNB. Golden State Wealth Management LLC bought a new position in shares of Airbnb during the 4th quarter valued at approximately $25,000. Berbice Capital Management LLC purchased a new stake in Airbnb during the fourth quarter valued at $26,000. Graney & King LLC bought a new position in Airbnb during the fourth quarter valued at $32,000. Whipplewood Advisors LLC purchased a new position in shares of Airbnb in the 4th quarter worth $44,000. Finally, Cromwell Holdings LLC increased its holdings in shares of Airbnb by 82.5% in the 4th quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after buying an additional 170 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Trading Down 3.9 %

ABNB opened at $120.69 on Friday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $166.74. The stock has a fifty day moving average price of $135.29 and a 200-day moving average price of $133.71. The firm has a market cap of $76.10 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.52 and a beta of 1.10. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

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

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 230,772 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the transaction, the chief executive officer now owns 12,000,913 shares in the company, valued at $1,934,067,139.08. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $129.55, for a total transaction of $90,685.00. Following the completion of the transaction, the chief technology officer now directly owns 170,719 shares of the company’s stock, valued at $22,116,646.45. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,270,894 shares of company stock valued at $317,578,168 over the last 90 days. Insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of analyst reports. Truist Financial lowered their price target on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating for the company in a report on Friday, March 21st. Barclays lifted their target price on Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a report on Friday, February 14th. Morgan Stanley increased their price target on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Bank of America lifted their price objective on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Finally, Robert W. Baird cut their price objective on shares of Airbnb from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $147.36.

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.