Envestnet Asset Management Inc. boosted its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 968,228 shares of the company's stock after purchasing an additional 66,438 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of Airbnb worth $127,235,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Airbnb during the fourth quarter worth about $433,374,000. Clearbridge Investments LLC grew its holdings in Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after acquiring an additional 2,590,475 shares during the last quarter. Meritage Group LP bought a new stake in Airbnb during the 3rd quarter worth approximately $160,985,000. Principal Financial Group Inc. increased its position in Airbnb by 174.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock valued at $245,268,000 after acquiring an additional 1,185,892 shares during the period. Finally, Parnassus Investments LLC raised its stake in shares of Airbnb by 8,324.9% during the fourth quarter. Parnassus Investments LLC now owns 655,539 shares of the company's stock valued at $86,144,000 after acquiring an additional 647,758 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.
Insider Buying and Selling
In other news, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $120.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief financial officer now directly owns 491,330 shares of the company's stock, valued at $58,959,600. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $133.19, for a total value of $5,122,620.59. Following the sale, the chief executive officer now owns 12,460,447 shares in the company, valued at $1,659,606,935.93. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,251,592 shares of company stock worth $308,485,023. 27.83% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
ABNB has been the subject of a number of recent research reports. Gordon Haskett upgraded Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price objective for the company in a report on Friday, February 14th. Evercore ISI increased their price target on Airbnb to $155.00 and gave the company a "hold" rating in a research note on Wednesday, January 15th. Baird R W raised Airbnb from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. DA Davidson upped their target price on Airbnb from $131.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, UBS Group raised their price target on shares of Airbnb from $143.00 to $160.00 and gave the stock a "neutral" rating in a 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $146.56.
Read Our Latest Report on ABNB
Airbnb Stock Up 0.6 %
Shares of Airbnb stock traded up $0.63 on Friday, hitting $114.54. The company had a trading volume of 4,817,277 shares, compared to its average volume of 4,750,950. The stock has a market capitalization of $72.22 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 3.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $166.74. The stock has a 50 day moving average of $131.21 and a 200-day moving average of $132.86.
Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share 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, sell-side analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.
About Airbnb
(
Free Report)
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.
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