Motley Fool Asset Management LLC Cuts Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Motley Fool Asset Management LLC lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 33.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,848 shares of the company's stock after selling 8,601 shares during the period. Motley Fool Asset Management LLC's holdings in Airbnb were worth $2,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ABNB. Norges Bank bought a new position in shares of Airbnb in the fourth quarter worth $433,374,000. Clearbridge Investments LLC increased its holdings in Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after buying an additional 2,590,475 shares during the period. Meritage Group LP acquired a new position in shares of Airbnb in the 3rd quarter valued at approximately $160,985,000. Principal Financial Group Inc. lifted its holdings 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 worth $245,268,000 after acquiring an additional 1,185,892 shares during the period. Finally, Temasek Holdings Private Ltd boosted its position in shares of Airbnb by 91.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company's stock worth $294,726,000 after acquiring an additional 1,109,076 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ABNB shares. JPMorgan Chase & Co. cut their target price on Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday. JMP Securities reaffirmed a "market perform" rating on shares of Airbnb in a research note on Friday, February 14th. HSBC raised Airbnb from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Gordon Haskett upgraded shares of Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price target on the stock in a research note on Friday, February 14th. Finally, Barclays upped their price objective on shares of Airbnb from $110.00 to $120.00 and gave the stock an "underweight" rating in a research report on Friday, February 14th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $146.56.

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Airbnb Stock Performance

NASDAQ ABNB traded up $15.63 during trading hours on Wednesday, reaching $121.32. 12,830,762 shares of the company were exchanged, compared to its average volume of 4,724,104. 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 stock has a market capitalization of $76.50 billion, a P/E ratio of 29.38, a P/E/G ratio of 3.52 and a beta of 1.15. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $166.74. The business's 50 day simple moving average is $131.85 and its 200-day simple moving average is $133.07.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating 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, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the company's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the sale, the director now directly owns 1,071,430 shares of the company's stock, valued at $138,160,898.50. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Chesky sold 38,459 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $120.44, for a total transaction of $4,632,001.96. Following the completion of the transaction, the chief executive officer now directly owns 11,731,685 shares of the company's stock, valued at approximately $1,412,964,141.40. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,030,357 shares of company stock valued at $284,351,868 in the last 90 days. Insiders own 27.83% of the company's stock.

Airbnb 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.