Zevenbergen Capital Investments LLC Sells 85,267 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Zevenbergen Capital Investments LLC reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 340,639 shares of the company's stock after selling 85,267 shares during the period. Airbnb accounts for approximately 0.9% of Zevenbergen Capital Investments LLC's holdings, making the stock its 28th biggest position. Zevenbergen Capital Investments LLC owned about 0.05% of Airbnb worth $44,763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABNB. Meritage Group LP bought a new stake in Airbnb during the third quarter valued at about $160,985,000. Principal Financial Group Inc. boosted its stake in Airbnb by 174.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock valued at $245,268,000 after purchasing an additional 1,185,892 shares during the period. Temasek Holdings Private Ltd grew its holdings in 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 buying an additional 1,109,076 shares during the last quarter. Parnassus Investments LLC increased its position in Airbnb by 8,324.9% in the 4th quarter. Parnassus Investments LLC now owns 655,539 shares of the company's stock worth $86,144,000 after buying an additional 647,758 shares during the period. Finally, Trivest Advisors Ltd lifted its holdings in shares of Airbnb by 137.3% during the fourth quarter. Trivest Advisors Ltd now owns 849,500 shares of the company's stock worth $111,633,000 after buying an additional 491,500 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Airbnb Price Performance

Shares of NASDAQ ABNB traded up $0.06 during trading on Tuesday, reaching $129.88. The company had a trading volume of 4,362,344 shares, compared to its average volume of 4,415,663. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.00. The business's 50 day moving average price is $135.79 and its 200-day moving average price is $133.64. The stock has a market cap of $81.89 billion, a PE ratio of 31.45, a PEG ratio of 3.52 and a beta of 1.10. 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 (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share 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 expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity

In other news, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $135.82, for a total transaction of $5,223,773.02. Following the completion of the sale, the chief executive officer now owns 12,498,908 shares in the company, valued at $1,697,601,684.56. The trade was a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $131.87, for a total transaction of $2,637,400.00. Following the completion of the transaction, the chief technology officer now owns 185,414 shares in the company, valued at $24,450,544.18. This represents a 9.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,055,909 shares of company stock valued at $289,763,290 over the last 90 days. 27.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their price objective on shares of Airbnb to $155.00 and gave the stock a "hold" rating in a research note on Wednesday, January 15th. Morgan Stanley boosted their price objective on shares of Airbnb from $115.00 to $125.00 and gave the stock an "underweight" rating in a report on Monday, January 13th. Gordon Haskett upgraded shares of Airbnb from a "sell" rating to a "hold" rating and set a $143.00 target price for the company in a research note on Friday, February 14th. The Goldman Sachs Group upgraded Airbnb from a "sell" rating to a "neutral" rating and boosted their price target for the company from $110.00 to $153.00 in a research note on Friday, February 14th. Finally, Barclays raised their price objective on 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, eighteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and a consensus price target of $147.36.

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.