Jennison Associates LLC Sells 2,092,272 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Jennison Associates LLC trimmed its position in Airbnb, Inc. (NASDAQ:ABNB) by 23.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,732,856 shares of the company’s stock after selling 2,092,272 shares during the period. Jennison Associates LLC owned about 1.04% of Airbnb worth $916,611,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ABNB. CWM LLC boosted its position in shares of Airbnb by 60.3% in the 3rd quarter. CWM LLC now owns 6,628 shares of the company’s stock worth $909,000 after purchasing an additional 2,493 shares during the last quarter. Arkadios Wealth Advisors boosted its position in shares of Airbnb by 11.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 3,190 shares of the company’s stock worth $438,000 after purchasing an additional 324 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of Airbnb by 15.7% in the 3rd quarter. HB Wealth Management LLC now owns 3,018 shares of the company’s stock worth $414,000 after purchasing an additional 409 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Airbnb by 128.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 92,848 shares of the company’s stock worth $12,739,000 after buying an additional 52,155 shares during the period. Finally, Flagship Harbor Advisors LLC raised its stake in Airbnb by 10.3% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 7,992 shares of the company’s stock worth $1,097,000 after buying an additional 748 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Airbnb Trading Up 0.3 %

Shares of Airbnb stock traded up $0.51 during trading on Monday, hitting $155.52. The company’s stock had a trading volume of 897,269 shares, compared to its average volume of 4,566,750. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 1.66. Airbnb, Inc. has a 52 week low of $103.55 and a 52 week high of $170.10. The stock has a market cap of $100.63 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. The stock has a 50-day moving average price of $159.55 and a two-hundred day moving average price of $142.43.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. Equities research analysts anticipate that Airbnb, Inc. will post 4.63 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, insider Nathan Blecharczyk sold 60,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $146.58, for a total transaction of $8,794,800.00. Following the transaction, the insider now owns 473,762 shares of the company’s stock, valued at approximately $69,444,033.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Nathan Blecharczyk sold 60,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $146.58, for a total value of $8,794,800.00. Following the sale, the insider now owns 473,762 shares in the company, valued at approximately $69,444,033.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 8,000 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director now owns 151,646 shares in the company, valued at approximately $22,746,900. The disclosure for this sale can be found here. Insiders have sold 463,674 shares of company stock valued at $73,516,515 in the last 90 days. 30.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ABNB has been the topic of several research analyst reports. Truist Financial raised their price objective on Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. Piper Sandler lifted their price target on Airbnb from $136.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research note on Thursday, April 11th. Tigress Financial lifted their price target on Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, B. Riley assumed coverage on Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and an average price target of $147.58.

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.