Livforsakringsbolaget Skandia Omsesidigt Sells 7,600 Shares of Airbnb, Inc. $ABNB

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 69.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,303 shares of the company’s stock after selling 7,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Airbnb were worth $417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC grew its holdings in shares of Airbnb by 72.1% during the 4th quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock worth $4,478,000 after purchasing an additional 13,818 shares in the last quarter. North Dakota State Investment Board bought a new stake in shares of Airbnb in the 4th quarter worth about $2,785,000. North Star Asset Management Inc. grew its stake in Airbnb by 13.4% during the fourth quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock worth $10,663,000 after buying an additional 9,294 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Airbnb by 18.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,291 shares of the company’s stock worth $30,305,000 after acquiring an additional 34,573 shares during the last quarter. Finally, Danske Bank A S raised its position in Airbnb by 11.0% in the 4th quarter. Danske Bank A S now owns 235,557 shares of the company’s stock valued at $31,970,000 after purchasing an additional 23,422 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nathan Blecharczyk sold 88,366 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $145.81, for a total transaction of $12,884,646.46. Following the completion of the sale, the insider owned 12,370 shares in the company, valued at approximately $1,803,669.70. This trade represents a 87.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the sale, the director directly owned 2,622,452 shares of the company’s stock, valued at $389,250,550.36. The trade was a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,325,429 shares of company stock valued at $321,925,435 over the last ninety days. 27.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ABNB shares. Citigroup reiterated an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. Susquehanna upped their price objective on Airbnb from $150.00 to $170.00 and gave the company a “positive” rating in a report on Friday, May 8th. Jefferies Financial Group upped their target price on shares of Airbnb from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC started coverage on Airbnb in a report on Monday, May 4th. They issued a “buy” rating for the company. Finally, Evercore restated an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.96.

Airbnb Price Performance

NASDAQ:ABNB opened at $148.38 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $89.43 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 1.57 and a beta of 1.14. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $150.75. The stock’s 50 day moving average price is $138.89 and its two-hundred day moving average price is $134.26.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business earned $0.24 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, analysts anticipate that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Airbnb 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.