Principal Financial Group Inc. boosted its stake in Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 17.9% in the 3rd quarter, Holdings Channel reports. The firm owned 680,539 shares of the company’s stock after buying an additional 103,087 shares during the quarter. Principal Financial Group Inc.’s holdings in Airbnb were worth $86,299,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of ABNB. Edgewood Management LLC lifted its position in shares of Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares in the last quarter. Geode Capital Management LLC boosted its position in Airbnb by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock valued at $1,189,635,000 after buying an additional 146,761 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Airbnb by 6,085.6% during the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares in the last quarter. Legal & General Group Plc increased its position in shares of Airbnb by 4.7% during the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after acquiring an additional 153,784 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after acquiring an additional 52,358 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.
Analyst Upgrades and Downgrades
ABNB has been the topic of several analyst reports. DA Davidson lifted their price objective on Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. JPMorgan Chase & Co. lifted their price target on shares of Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a research note on Monday, October 7th. Wedbush boosted their target price on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, TD Cowen increased their price target on shares of Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $139.48.
Airbnb Stock Up 3.8 %
ABNB opened at $134.21 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The stock’s 50 day moving average price is $135.71 and its 200 day moving average price is $134.33. The stock has a market cap of $85.09 billion, a P/E ratio of 47.09, a P/E/G ratio of 1.93 and a beta of 1.13.
Airbnb (NASDAQ:ABNB – Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the prior year, the firm earned $2.39 earnings per share. As a group, research analysts predict that Airbnb, Inc. will post 3.99 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $131.88, for a total transaction of $28,259,905.80. Following the completion of the transaction, the director now owns 1,285,715 shares of the company’s stock, valued at $169,560,094.20. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now owns 164,850 shares in the company, valued at approximately $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 764,592 shares of company stock worth $101,185,969. 27.83% of the stock is owned by corporate insiders.
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.
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