Airbnb, Inc. $ABNB Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 6.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,151 shares of the company’s stock after selling 8,871 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Airbnb were worth $16,321,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ABNB. Harris Associates L P grew its position in Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares during the last quarter. Norges Bank acquired a new stake in shares of Airbnb during the second quarter worth about $483,644,000. Amundi grew its holdings in shares of Airbnb by 112.3% during the second quarter. Amundi now owns 2,670,251 shares of the company’s stock worth $361,525,000 after buying an additional 1,412,608 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in Airbnb in the 2nd quarter valued at about $170,189,000. Finally, Bank of Nova Scotia increased its position in Airbnb by 1,232.7% in the 2nd quarter. Bank of Nova Scotia now owns 956,188 shares of the company’s stock valued at $126,542,000 after acquiring an additional 884,439 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ABNB. BTIG Research reiterated a “neutral” rating on shares of Airbnb in a research note on Friday, November 7th. Morgan Stanley increased their price target on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Tuesday, January 13th. Sanford C. Bernstein dropped their price objective on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Royal Bank Of Canada restated an “outperform” rating on shares of Airbnb in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group lifted their target price on shares of Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $147.84.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $132.15 on Monday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The firm has a market capitalization of $81.34 billion, a P/E ratio of 31.39, a PEG ratio of 2.05 and a beta of 1.09. The company’s fifty day moving average is $128.86 and its two-hundred day moving average is $127.52.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.13 EPS. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 141,063 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $121.96, for a total value of $17,204,043.48. Following the completion of the transaction, the insider directly owned 11,520 shares of the company’s stock, valued at $1,404,979.20. This trade represents a 92.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, November 10th. The stock was sold at an average price of $120.66, for a total value of $28,475,760.00. Following the transaction, the director directly owned 232,015 shares of the company’s stock, valued at approximately $27,994,929.90. This represents a 50.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,152,372 shares of company stock valued at $141,414,638. Corporate insiders own 27.83% of the company’s stock.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.