KLP Kapitalforvaltning AS Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

KLP Kapitalforvaltning AS purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 191,800 shares of the company's stock, valued at approximately $25,204,000.

Several other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of Airbnb during the 4th quarter valued at about $25,000. Berbice Capital Management LLC acquired a new stake in Airbnb during the fourth quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Airbnb during the 4th quarter valued at approximately $44,000. Cromwell Holdings LLC increased its stake in Airbnb by 82.5% during the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company's stock worth $49,000 after acquiring an additional 170 shares during the last quarter. Finally, Quarry LP purchased a new stake in Airbnb in the third quarter valued at $55,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Shares of ABNB stock traded up $0.06 during trading hours on Tuesday, hitting $129.88. The stock had a trading volume of 4,187,708 shares, compared to its average volume of 5,258,896. The stock's 50 day moving average is $135.74 and its 200 day moving average is $133.53. The firm has a market capitalization of $81.89 billion, a PE ratio of 31.45, a PEG ratio of 3.52 and a beta of 1.10. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69.

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Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Nathan Blecharczyk sold 183,078 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the sale, the insider now owns 164,850 shares in the company, valued at $26,046,300. This trade represents a 52.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 700 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $126.00, for a total value of $88,200.00. Following the transaction, the chief technology officer now owns 171,419 shares in the company, valued at $21,598,794. The trade was a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,055,909 shares of company stock valued at $289,763,290 over the last quarter. 27.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Gordon Haskett upgraded Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price target for the company in a report on Friday, February 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research note on Friday, February 14th. JMP Securities reissued a "market perform" rating on shares of Airbnb in a research note on Friday, February 14th. UBS Group increased their price objective on shares of Airbnb from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, Hsbc Global Res raised Airbnb from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Airbnb presently has an average rating of "Hold" and a consensus target price of $147.36.

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.