OVERSEA CHINESE BANKING Corp Ltd Has $3.23 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 72.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,401 shares of the company's stock after purchasing an additional 10,648 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Airbnb were worth $3,228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Transcendent Capital Group LLC acquired a new stake in shares of Airbnb in the 1st quarter valued at $25,000. New Millennium Group LLC acquired a new stake in Airbnb in the second quarter valued at $28,000. Pathway Financial Advisers LLC purchased a new stake in Airbnb during the 1st quarter worth about $33,000. Cultivar Capital Inc. purchased a new stake in Airbnb during the 2nd quarter worth about $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Airbnb during the 3rd quarter worth about $25,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ABNB. Piper Sandler increased their target price on shares of Airbnb from $125.00 to $145.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Truist Financial reduced their target price on Airbnb from $134.00 to $124.00 and set a "hold" rating for the company in a report on Wednesday, September 4th. Morgan Stanley increased their price objective on Airbnb from $120.00 to $130.00 and gave the company an "underweight" rating in a report on Tuesday, July 23rd. Sanford C. Bernstein cut their target price on shares of Airbnb from $174.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, September 17th. Finally, Susquehanna increased their price target on shares of Airbnb from $130.00 to $160.00 and gave the stock a "positive" rating in a research note on Monday. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and a consensus target price of $139.31.

Insider Activity

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the completion of the sale, the director now owns 16,472 shares in the company, valued at $2,259,958.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 417,806 shares of company stock valued at $51,809,831. Insiders own 27.83% of the company's stock.

Airbnb Trading Down 0.3 %

Shares of ABNB traded down $0.44 during midday trading on Wednesday, hitting $132.76. The stock had a trading volume of 4,920,735 shares, compared to its average volume of 4,512,979. The firm has a market cap of $85.18 billion, a P/E ratio of 46.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.15. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The business has a 50-day simple moving average of $129.90 and a two-hundred day simple moving average of $136.99.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the prior year, the firm earned $2.39 earnings per share. As a group, equities analysts forecast that Airbnb, Inc. will post 4.04 EPS for the current year.

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.