Westpac Banking Corp Grows Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Westpac Banking Corp raised its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,727 shares of the company's stock after purchasing an additional 2,712 shares during the quarter. Westpac Banking Corp's holdings in Airbnb were worth $2,461,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABNB. Norges Bank bought a new position in Airbnb in the 4th quarter valued at approximately $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 period. Meritage Group LP acquired a new position in shares of Airbnb in the 3rd quarter valued at about $160,985,000. Principal Financial Group Inc. lifted its stake in Airbnb by 174.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock valued at $245,268,000 after buying an additional 1,185,892 shares during the period. Finally, Temasek Holdings Private Ltd increased its stake in shares of Airbnb by 91.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company's stock valued at $294,726,000 after acquiring an additional 1,109,076 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Trading Up 14.8 %

ABNB stock traded up $15.63 during trading on Wednesday, hitting $121.32. 12,830,762 shares of the company traded hands, compared to its average volume of 4,724,104. The firm has a market capitalization of $76.50 billion, a PE 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 company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The company has a 50-day moving average of $131.85 and a 200-day moving average of $133.07.

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Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 700 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $129.82, for a total value of $90,874.00. Following the sale, the chief technology officer now owns 184,014 shares in the company, valued at $23,888,697.48. This represents a 0.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 12,460,447 shares of the company's stock, valued at approximately $1,659,606,935.93. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,030,357 shares of company stock valued at $284,351,868 over the last ninety days. Company insiders own 27.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Jefferies Financial Group raised Airbnb from a "hold" rating to a "buy" rating and upped their price target for the stock from $165.00 to $185.00 in a research note on Monday, March 10th. Wedbush restated an "outperform" rating and issued a $155.00 target price on shares of Airbnb in a report on Tuesday, February 4th. The Goldman Sachs Group upgraded Airbnb from a "sell" rating to a "neutral" rating and lifted their price target for the company from $110.00 to $153.00 in a research note on Friday, February 14th. Tigress Financial increased their price objective on Airbnb from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Finally, DA Davidson lifted their price objective on shares of Airbnb from $131.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Airbnb presently has a consensus rating of "Hold" and a consensus price target of $146.56.

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.