Franklin Resources Inc. Sells 5,446,371 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Franklin Resources Inc. cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 83.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,114,995 shares of the company’s stock after selling 5,446,371 shares during the quarter. Franklin Resources Inc. owned approximately 0.18% of Airbnb worth $146,522,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC lifted its position in Airbnb by 2.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 26,464 shares of the company’s stock worth $3,478,000 after acquiring an additional 604 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after purchasing an additional 2,590,475 shares during the period. RWA Wealth Partners LLC lifted its holdings in Airbnb by 36.4% during the 4th quarter. RWA Wealth Partners LLC now owns 47,768 shares of the company’s stock worth $6,277,000 after purchasing an additional 12,744 shares during the last quarter. Allstate Corp acquired a new position in Airbnb in the 4th quarter valued at $1,697,000. Finally, DnB Asset Management AS increased its position in Airbnb by 5.9% during the 4th quarter. DnB Asset Management AS now owns 79,350 shares of the company’s stock worth $10,427,000 after buying an additional 4,409 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity

In related news, CEO Brian Chesky sold 230,772 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $161.16, for a total value of $37,191,215.52. Following the transaction, the chief executive officer now directly owns 12,000,913 shares of the company’s stock, valued at approximately $1,934,067,139.08. The trade was a 1.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $135.35, for a total transaction of $94,745.00. Following the sale, the chief technology officer now owns 184,714 shares of the company’s stock, valued at $25,001,039.90. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,250,894 shares of company stock valued at $314,940,768 over the last three months. Corporate insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ABNB shares. The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and boosted their target price for the company from $110.00 to $153.00 in a research report on Friday, February 14th. DA Davidson increased their target price on shares of Airbnb from $131.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. HSBC upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Wedbush reissued an “outperform” rating and set a $155.00 price target on shares of Airbnb in a research report on Tuesday, February 4th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a report on Friday, February 14th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $147.36.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $122.80 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The stock has a market cap of $77.43 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. The stock’s fifty day simple moving average is $134.55 and its two-hundred day simple moving average is $133.79. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $166.74.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping 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, analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

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.