Airbnb, Inc. (NASDAQ:ABNB) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.5% during the first quarter, HoldingsChannel reports. The firm owned 1,105,329 shares of the company’s stock after purchasing an additional 26,735 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Airbnb were worth $182,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Miracle Mile Advisors LLC increased its stake in shares of Airbnb by 0.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after purchasing an additional 68 shares in the last quarter. Mount Vernon Associates Inc. MD increased its position in shares of Airbnb by 1.0% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,270 shares of the company’s stock valued at $990,000 after buying an additional 75 shares in the last quarter. Cambridge Trust Co. raised its stake in shares of Airbnb by 10.0% during the 4th quarter. Cambridge Trust Co. now owns 825 shares of the company’s stock worth $112,000 after buying an additional 75 shares during the period. Waldron Private Wealth LLC lifted its position in shares of Airbnb by 0.5% during the 4th quarter. Waldron Private Wealth LLC now owns 16,171 shares of the company’s stock valued at $2,201,000 after buying an additional 78 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Airbnb by 36.2% in the 4th quarter. Venturi Wealth Management LLC now owns 301 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In related news, CAO David C. Bernstein sold 6,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total transaction of $882,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,043 shares of the company’s stock, valued at $6,915,321. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO David C. Bernstein sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total value of $882,000.00. Following the completion of the transaction, the chief accounting officer now owns 47,043 shares of the company’s stock, valued at approximately $6,915,321. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $162.00, for a total transaction of $97,200.00. Following the sale, the chief technology officer now directly owns 219,904 shares in the company, valued at $35,624,448. The disclosure for this sale can be found here. In the last quarter, insiders sold 424,322 shares of company stock worth $62,720,612. 27.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $155.00 target price (up previously from $145.00) on shares of Airbnb in a research report on Thursday, May 9th. UBS Group boosted their price objective on Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. DA Davidson restated a “neutral” rating and issued a $145.00 target price on shares of Airbnb in a research report on Thursday, May 9th. Tigress Financial boosted their price target on Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Bank of America raised their price objective on Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $152.38.

Airbnb Stock Performance

NASDAQ:ABNB traded down $0.59 during trading hours on Wednesday, reaching $153.75. 322,620 shares of the company’s stock were exchanged, compared to its average volume of 4,380,106. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $99.02 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.88 and a beta of 1.18. Airbnb, Inc. has a 1-year low of $113.24 and a 1-year high of $170.10. The company has a 50-day moving average of $150.20 and a 200 day moving average of $151.11.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Research analysts anticipate that Airbnb, Inc. will post 4.65 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.