PGGM Investments Has $879,000 Stake in Airbnb, Inc. (NASDAQ:ABNB)

PGGM Investments raised its stake in Airbnb, Inc. (NASDAQ:ABNB) by 22.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,797 shares of the company’s stock after acquiring an additional 1,077 shares during the quarter. PGGM Investments’ holdings in Airbnb were worth $879,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new position in Airbnb in the 1st quarter valued at approximately $25,000. Bfsg LLC acquired a new stake in shares of Airbnb during the 4th quarter valued at $27,000. Trust Co. of Vermont bought a new stake in Airbnb during the 4th quarter worth $27,000. Vima LLC acquired a new position in Airbnb in the 4th quarter worth about $29,000. Finally, Westend Capital Management LLC bought a new position in Airbnb in the first quarter valued at about $33,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $126.57, for a total value of $75,942.00. Following the completion of the sale, the chief technology officer now directly owns 205,774 shares of the company’s stock, valued at $26,044,815.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $126.57, for a total transaction of $75,942.00. Following the transaction, the chief technology officer now directly owns 205,774 shares of the company’s stock, valued at approximately $26,044,815.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 80,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the completion of the sale, the chief technology officer now owns 207,574 shares of the company’s stock, valued at approximately $30,951,359.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 735,492 shares of company stock worth $109,402,066. Insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. DA Davidson restated a “neutral” rating and set a $145.00 price target on shares of Airbnb in a report on Thursday, May 9th. Susquehanna decreased their price target on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird dropped their price target on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. HSBC cut shares of Airbnb from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $160.00 to $156.00 in a research note on Thursday, May 9th. Finally, Piper Sandler lowered their target price on Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average price target of $137.00.

Airbnb Stock Down 0.6 %

Shares of NASDAQ:ABNB traded down $0.66 during trading on Wednesday, reaching $116.24. 3,503,787 shares of the stock were exchanged, compared to its average volume of 4,591,374. The stock has a fifty day moving average of $142.60 and a two-hundred day moving average of $150.90. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $74.86 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. Research analysts anticipate that Airbnb, Inc. will post 4.66 earnings per share for the current fiscal year.

Airbnb 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.