Forsta AP Fonden Reduces Stake in Airbnb, Inc. (NASDAQ:ABNB)

Forsta AP Fonden reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 5.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,100 shares of the company’s stock after selling 6,600 shares during the period. Forsta AP Fonden’s holdings in Airbnb were worth $14,731,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in Airbnb during the third quarter worth $25,000. Berbice Capital Management LLC purchased a new position in Airbnb during the fourth quarter worth $26,000. Hollencrest Capital Management increased its position in Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Airbnb during the third quarter worth $30,000. Finally, Quarry LP acquired a new stake in shares of Airbnb during the third quarter worth $55,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Shares of ABNB opened at $132.58 on Thursday. The firm has a fifty day moving average of $133.84 and a 200-day moving average of $130.88. The company has a market cap of $84.05 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the firm earned $2.39 earnings per share. As a group, equities analysts anticipate that Airbnb, Inc. will post 3.98 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABNB. Piper Sandler raised their price objective on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. TD Cowen raised their price objective on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley raised their price objective on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of Airbnb in a report on Monday, December 16th. Finally, UBS Group lifted their target price on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $139.63.

Insider Buying and Selling at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the sale, the insider now directly owns 164,850 shares in the company, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $137.00, for a total transaction of $137,000.00. Following the completion of the transaction, the chief accounting officer now owns 40,581 shares of the company’s stock, valued at $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,157,308 shares of company stock valued at $153,981,848 in the last quarter. Corporate 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.