Edgewood Management LLC Has $1.65 Billion Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Edgewood Management LLC reduced its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,526,097 shares of the company’s stock after selling 1,056,336 shares during the period. Airbnb makes up about 4.7% of Edgewood Management LLC’s investment portfolio, making the stock its 10th largest position. Edgewood Management LLC’s holdings in Airbnb were worth $1,646,054,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Airbnb by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock valued at $1,244,514,000 after acquiring an additional 72,991 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after buying an additional 2,590,475 shares in the last quarter. Norges Bank acquired a new position in shares of Airbnb in the 4th quarter valued at $433,374,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Airbnb by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,790,644 shares of the company’s stock worth $366,719,000 after acquiring an additional 84,348 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Airbnb by 174.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after acquiring an additional 1,185,892 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Trading Down 6.4 %

Shares of NASDAQ ABNB opened at $106.66 on Friday. Airbnb, Inc. has a twelve month low of $104.73 and a twelve month high of $166.74. The stock has a market cap 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 quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average is $133.75 and its 200-day moving average is $133.66.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share 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%. Equities research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In related news, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $135.82, for a total value of $5,223,773.02. Following the sale, the chief executive officer now owns 12,498,908 shares of the company’s stock, valued at approximately $1,697,601,684.56. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $135.35, for a total value of $94,745.00. Following the completion of the sale, the chief technology officer now owns 184,714 shares in the company, valued at $25,001,039.90. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,290,053 shares of company stock worth $319,656,539. 27.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABNB. Argus upgraded Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a research note on Friday, February 14th. B. Riley lifted their target price on shares of Airbnb from $131.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Wells Fargo & Company cut their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Finally, Truist Financial reduced their price objective on Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $147.28.

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.