Sumitomo Mitsui Trust Holdings Inc. Raises Stake in Airbnb, Inc. (NASDAQ:ABNB)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,105,329 shares of the company’s stock after acquiring an additional 26,735 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.17% of Airbnb worth $182,335,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb in the third quarter worth $27,000. Bfsg LLC bought a new stake in Airbnb during the 4th quarter valued at $27,000. Trust Co. of Vermont bought a new stake in Airbnb during the 4th quarter valued at $27,000. Finally, Vima LLC purchased a new stake in Airbnb during the 4th quarter valued at $29,000. 80.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of analyst reports. Tigress Financial boosted their price objective on shares of Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Wells Fargo & Company upped their price target on Airbnb from $107.00 to $127.00 and gave the company an “underweight” rating in a research report on Monday, April 1st. Wedbush upgraded Airbnb from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $165.00 in a research report on Tuesday, May 28th. Mizuho upgraded Airbnb from a “neutral” rating to a “buy” rating and upped their target price for the company from $150.00 to $200.00 in a report on Wednesday, April 24th. Finally, Citigroup cut their price target on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $152.38.

Airbnb Stock Down 0.4 %

Shares of Airbnb stock traded down $0.59 on Wednesday, reaching $153.75. The company’s stock had a trading volume of 322,620 shares, compared to its average volume of 4,380,106. Airbnb, Inc. has a 52 week low of $113.24 and a 52 week high of $170.10. The firm’s fifty day simple moving average is $150.20 and its two-hundred day simple moving average is $151.11. 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 company 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 (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.23 by $0.18. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. Airbnb’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period last year, the company earned $0.18 EPS. Equities analysts anticipate that Airbnb, Inc. will post 4.65 earnings per share for the current year.

Insider Activity at Airbnb

In other news, CAO David C. Bernstein sold 6,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total value of $882,000.00. Following the transaction, the chief accounting officer now directly owns 47,043 shares in the company, valued at approximately $6,915,321. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO David C. Bernstein sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total value of $882,000.00. Following the transaction, the chief accounting officer now owns 47,043 shares of the company’s stock, valued at $6,915,321. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the sale, the director now directly owns 46,467 shares of the company’s stock, valued at $6,971,908.68. The disclosure for this sale can be found here. Insiders have sold a total of 424,322 shares of company stock worth $62,720,612 over the last quarter. Company 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.