KLP Kapitalforvaltning AS Sells 48,000 Shares of Airbnb, Inc. $ABNB

KLP Kapitalforvaltning AS cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 23.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,900 shares of the company’s stock after selling 48,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Airbnb were worth $18,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABNB. DDD Partners LLC raised its position in shares of Airbnb by 3.9% during the second quarter. DDD Partners LLC now owns 2,041 shares of the company’s stock worth $270,000 after purchasing an additional 76 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Airbnb by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock valued at $604,000 after purchasing an additional 78 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after purchasing an additional 83 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Airbnb by 0.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 10,552 shares of the company’s stock worth $1,396,000 after purchasing an additional 85 shares in the last quarter. Finally, Brookstone Capital Management raised its holdings in Airbnb by 4.0% during the 3rd quarter. Brookstone Capital Management now owns 2,350 shares of the company’s stock worth $285,000 after buying an additional 91 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Trading Down 0.7%

Airbnb stock opened at $137.04 on Thursday. The company has a market cap of $84.35 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The company has a fifty day simple moving average of $126.07 and a 200 day simple moving average of $127.57.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the firm earned $2.13 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CEO Brian Chesky sold 51,230 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the transaction, the chief executive officer owned 45,854 shares of the company’s stock, valued at $6,014,210.64. The trade was a 52.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elinor Mertz sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $135.94, for a total value of $509,775.00. Following the sale, the chief financial officer owned 414,280 shares in the company, valued at approximately $56,317,223.20. This represents a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,579,756 shares of company stock valued at $193,545,739 in the last ninety days. Insiders own 27.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABNB. KeyCorp assumed coverage on shares of Airbnb in a report on Thursday, October 23rd. They issued a “sector weight” rating for the company. UBS Group boosted their price objective on shares of Airbnb from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. BNP Paribas Exane initiated coverage on shares of Airbnb in a research note on Monday, November 24th. They issued a “neutral” rating for the company. Mizuho set a $156.00 price target on Airbnb in a research note on Friday, November 7th. Finally, Sanford C. Bernstein cut their price target on Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $144.36.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.