Swedbank AB Sells 286,464 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Swedbank AB decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 24.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 863,907 shares of the company’s stock after selling 286,464 shares during the quarter. Swedbank AB’s holdings in Airbnb were worth $109,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Airbnb by 19,052.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after buying an additional 1,684,646 shares during the last quarter. Farallon Capital Management LLC bought a new stake in shares of Airbnb in the first quarter valued at approximately $265,292,000. Edgewood Management LLC boosted its position in shares of Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after acquiring an additional 1,143,464 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Airbnb by 19,430.3% in the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after acquiring an additional 1,113,747 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the sale, the chief technology officer now owns 195,844 shares in the company, valued at $23,501,280. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 641,094 shares of company stock valued at $81,077,447. Insiders own 27.83% of the company’s stock.

Airbnb Trading Up 3.1 %

Shares of ABNB opened at $137.34 on Monday. The stock has a fifty day moving average price of $132.73 and a two-hundred day moving average price of $135.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $87.07 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 1.89 and a beta of 1.15. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly 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). The business had revenue of $3.73 billion during 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 period in the prior year, the firm earned $2.39 earnings per share. Analysts predict that Airbnb, Inc. will post 4.02 EPS for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the subject of a number of research reports. Royal Bank of Canada reduced their price target on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Friday, November 8th. The Goldman Sachs Group decreased their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird boosted their price target on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price objective on Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $138.97.

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.