Airbnb, Inc. (NASDAQ:ABNB) Stock Position Reduced by USS Investment Management Ltd

USS Investment Management Ltd decreased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 5.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 70,609 shares of the company’s stock after selling 4,016 shares during the quarter. USS Investment Management Ltd’s holdings in Airbnb were worth $9,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Airbnb by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock worth $1,244,514,000 after acquiring an additional 72,991 shares during the last quarter. Clearbridge Investments LLC increased its position in Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after purchasing an additional 2,590,475 shares during the last quarter. Northern Trust Corp increased its position in Airbnb by 8.4% in the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company’s stock worth $564,647,000 after purchasing an additional 331,607 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock worth $548,683,000 after purchasing an additional 558,856 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Airbnb during the 4th quarter valued at about $433,374,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity

In related news, insider Nathan Blecharczyk sold 26,154 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $145.00, for a total value of $3,792,330.00. Following the sale, the insider now owns 159,337 shares of the company’s stock, valued at $23,103,865. The trade was a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $141.93, for a total transaction of $30,413,470.05. Following the transaction, the director now owns 428,575 shares of the company’s stock, valued at approximately $60,827,649.75. This represents a 33.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,414,534 shares of company stock worth $175,979,857. Company insiders own 27.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial dropped their price objective on Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Cantor Fitzgerald restated an “underweight” rating and set a $100.00 price target on shares of Airbnb in a research note on Wednesday, May 14th. Morgan Stanley lifted their price objective on shares of Airbnb from $125.00 to $130.00 and gave the company an “underweight” rating in a research note on Thursday, April 17th. Tigress Financial upped their price objective on shares of Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, B. Riley cut their target price on Airbnb from $145.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $141.43.

Airbnb Stock Down 3.5%

Shares of ABNB opened at $127.52 on Thursday. 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 simple moving average of $122.38 and a 200-day simple moving average of $131.18. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The firm has a market capitalization of $79.88 billion, a P/E ratio of 30.88, a P/E/G ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company earned $0.41 EPS. The company’s revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share 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.