Park Avenue Securities LLC Acquires 2,378 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Park Avenue Securities LLC boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,695 shares of the company's stock after purchasing an additional 2,378 shares during the quarter. Park Avenue Securities LLC's holdings in Airbnb were worth $2,457,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Edgewood Management LLC boosted its position in shares of Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company's stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Airbnb by 1.6% in the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company's stock worth $1,189,635,000 after acquiring an additional 146,761 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company's stock worth $537,872,000 after acquiring an additional 4,172,985 shares in the last quarter. Legal & General Group Plc grew its stake in Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company's stock valued at $519,044,000 after acquiring an additional 153,784 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Airbnb by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company's stock valued at $343,185,000 after acquiring an additional 52,358 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ABNB shares. Benchmark reiterated a "buy" rating and issued a $155.00 target price on shares of Airbnb in a report on Friday, November 8th. Bank of America upped their price objective on shares of Airbnb from $154.00 to $159.00 and gave the stock a "neutral" rating in a report on Wednesday, December 18th. Citigroup boosted their target price on shares of Airbnb from $135.00 to $158.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Jefferies Financial Group lifted their price target on Airbnb from $120.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Finally, Susquehanna increased their price objective on Airbnb from $130.00 to $160.00 and gave the stock a "positive" rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $139.63.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 214,285 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the sale, the director now owns 10,321 shares in the company, valued at approximately $1,352,876.68. This trade represents a 95.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total transaction of $81,666.00. Following the completion of the transaction, the chief technology officer now owns 192,844 shares of the company's stock, valued at $26,247,996.84. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,130,982 shares of company stock valued at $150,523,585. Company insiders own 27.83% of the company's stock.

Airbnb Price Performance

NASDAQ ABNB traded up $2.96 during trading hours on Friday, hitting $135.12. The company had a trading volume of 3,740,209 shares, compared to its average volume of 3,539,122. The firm has a 50 day simple moving average of $134.16 and a 200 day simple moving average of $132.11. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The firm has a market capitalization of $85.66 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 1.63 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 (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 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 during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the business posted $2.39 earnings per share. Equities research analysts expect that Airbnb, Inc. will post 3.99 earnings per share for the current year.

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.