Canada Pension Plan Investment Board Reduces Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Canada Pension Plan Investment Board reduced its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 50.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,120 shares of the company's stock after selling 62,407 shares during the quarter. Canada Pension Plan Investment Board's holdings in Airbnb were worth $8,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Airbnb during the fourth quarter worth $433,374,000. Clearbridge Investments LLC grew its position in shares of Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Airbnb by 174.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock worth $245,268,000 after buying an additional 1,185,892 shares in the last quarter. Parnassus Investments LLC grew its holdings in Airbnb by 8,324.9% during the 4th quarter. Parnassus Investments LLC now owns 655,539 shares of the company's stock valued at $86,144,000 after buying an additional 647,758 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Airbnb by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after acquiring an additional 558,856 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 214,285 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $114.22, for a total value of $24,475,632.70. Following the completion of the transaction, the director now owns 2,080,585 shares of the company's stock, valued at approximately $237,644,418.70. This represents a 9.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $112.59, for a total value of $78,813.00. Following the transaction, the chief technology officer now directly owns 222,122 shares of the company's stock, valued at approximately $25,008,715.98. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,213,131 shares of company stock valued at $300,179,370. 27.83% of the stock is owned by insiders.

Airbnb Stock Performance

NASDAQ:ABNB traded up $0.80 during trading hours on Friday, hitting $122.51. 2,904,345 shares of the company were exchanged, compared to its average volume of 4,792,406. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $165.50. The stock has a market capitalization of $77.25 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 3.52 and a beta of 1.15. The company's 50 day moving average price is $125.67 and its 200-day moving average price is $131.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (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%. As a group, research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ABNB shares. Evercore ISI raised their target price on shares of Airbnb to $155.00 and gave the company a "hold" rating in a report on Wednesday, January 15th. Truist Financial reduced their target price on shares of Airbnb from $123.00 to $112.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Canaccord Genuity Group increased their price target on shares of Airbnb from $165.00 to $190.00 and gave the company a "buy" rating in a report on Friday, February 14th. Gordon Haskett upgraded Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price objective on the stock in a research report on Friday, February 14th. Finally, Wells Fargo & Company dropped their target price on Airbnb from $134.00 to $100.00 and set an "underweight" rating for the company in a report on Monday, April 7th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $146.94.

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.