TD Asset Management Inc Has $25.73 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

TD Asset Management Inc decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 215,376 shares of the company’s stock after selling 7,119 shares during the quarter. TD Asset Management Inc’s holdings in Airbnb were worth $25,729,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after acquiring an additional 2,685,026 shares during the period. Two Sigma Advisers LP raised its stake in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after acquiring an additional 2,577,000 shares during the period. Principal Financial Group Inc. increased its position in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock worth $388,924,000 after buying an additional 1,389,251 shares during the period. Assenagon Asset Management S.A. increased its position in Airbnb by 119.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company’s stock worth $179,991,000 after buying an additional 820,887 shares during the period. Finally, AQR Capital Management LLC increased its position in Airbnb by 52.1% during the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock worth $310,896,000 after buying an additional 809,964 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $139.39, for a total transaction of $83,634.00. Following the sale, the chief technology officer directly owned 209,777 shares of the company’s stock, valued at approximately $29,240,816.03. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $138.83, for a total value of $32,763,880.00. Following the sale, the director directly owned 472,015 shares in the company, valued at $65,529,842.45. The trade was a 33.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,655,558 shares of company stock valued at $219,678,073. 27.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley increased their price objective on Airbnb from $125.00 to $130.00 and gave the stock an “underweight” rating in a research report on Monday, July 21st. Citigroup lowered their price objective on Airbnb from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Wedbush cut Airbnb from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $150.00 to $135.00 in a research report on Friday, May 2nd. Canaccord Genuity Group lowered their price objective on Airbnb from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $142.10.

Airbnb Stock Down 3.7%

NASDAQ:ABNB opened at $136.84 on Wednesday. The stock’s 50-day simple moving average is $134.87 and its 200 day simple moving average is $131.17. The firm has a market capitalization of $85.72 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.65 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. On average, analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Airbnb Company 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.