Allstate Corp Buys New Position in Airbnb, Inc. (NASDAQ:ABNB)

Allstate Corp purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the fourth quarter, HoldingsChannel reports. The fund purchased 12,914 shares of the company’s stock, valued at approximately $1,697,000.

A number of other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Airbnb in the fourth quarter worth $25,000. Berbice Capital Management LLC acquired a new stake in Airbnb in the 4th quarter valued at $26,000. Graney & King LLC acquired a new stake in Airbnb in the 4th quarter valued at $32,000. Whipplewood Advisors LLC bought a new stake in Airbnb during the 4th quarter worth about $44,000. Finally, Cromwell Holdings LLC boosted its stake in shares of Airbnb by 82.5% during the 4th quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Trading Down 3.9 %

Shares of NASDAQ:ABNB opened at $120.69 on Friday. The business’s 50 day simple moving average is $135.29 and its 200 day simple moving average is $133.71. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $166.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market capitalization of $76.10 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. On average, research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Airbnb from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Gordon Haskett raised Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price target on the stock in a research report on Friday, February 14th. Barclays increased their price objective on Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, February 14th. Argus upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Benchmark increased their price target on shares of Airbnb from $150.00 to $178.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $147.36.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $135.35, for a total transaction of $94,745.00. Following the completion of the sale, the chief technology officer now directly owns 184,714 shares in the company, valued at $25,001,039.90. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $129.38, for a total value of $27,724,193.30. Following the completion of the sale, the director now directly owns 2,509,155 shares in the company, valued at approximately $324,634,473.90. This represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,270,894 shares of company stock worth $317,578,168 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

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.