Resona Asset Management Co. Ltd. Invests $16.60 Million in Airbnb, Inc. (NASDAQ:ABNB)

Resona Asset Management Co. Ltd. bought a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 126,008 shares of the company’s stock, valued at approximately $16,595,000.

Other institutional investors have also recently bought and sold shares of the company. Verde Capital Management raised its holdings in shares of Airbnb by 25.3% in the fourth quarter. Verde Capital Management now owns 21,118 shares of the company’s stock valued at $2,775,000 after purchasing an additional 4,269 shares during the last quarter. Tri Ri Asset Management Corp bought a new position in Airbnb in the third quarter valued at $6,352,000. Baltimore Washington Financial Advisors Inc. increased its stake in Airbnb by 14.8% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 49,447 shares of the company’s stock valued at $6,498,000 after buying an additional 6,357 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Airbnb by 40.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock worth $90,123,000 after buying an additional 197,558 shares in the last quarter. Finally, Sarasin & Partners LLP acquired a new position in shares of Airbnb during the 4th quarter worth about $2,272,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

NASDAQ ABNB opened at $106.66 on Friday. The firm’s 50 day simple moving average is $133.75 and its 200 day simple moving average is $133.66. The firm has a market capitalization of $67.25 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 3.52 and a beta of 1.15. 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, Inc. has a 1 year low of $104.73 and a 1 year high of $166.74.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group raised Airbnb from a “sell” rating to a “neutral” rating and lifted their target price for the company from $110.00 to $153.00 in a research report on Friday, February 14th. Wells Fargo & Company dropped their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Barclays raised their target price on shares of Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, February 14th. Truist Financial dropped their price target on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Finally, Tigress Financial lifted their price objective on shares of Airbnb from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $147.28.

Insider Buying and Selling at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 12,000,913 shares in the company, valued at $1,934,067,139.08. This trade represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $119.67, for a total transaction of $83,769.00. Following the transaction, the chief technology officer now owns 170,019 shares of the company’s stock, valued at $20,346,173.73. This trade represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,290,053 shares of company stock worth $319,656,539 over the last 90 days. Insiders own 27.83% of the company’s stock.

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.