ING Groep NV Has $59.09 Million Stake in Airbnb, Inc. $ABNB

ING Groep NV boosted its stake in Airbnb, Inc. (NASDAQ:ABNB) by 8.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 486,661 shares of the company’s stock after acquiring an additional 38,891 shares during the quarter. ING Groep NV’s holdings in Airbnb were worth $59,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABNB. Concord Wealth Partners acquired a new stake in shares of Airbnb in the 2nd quarter valued at about $28,000. Whipplewood Advisors LLC boosted its position in shares of Airbnb by 235.3% during the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after buying an additional 160 shares during the period. Root Financial Partners LLC bought a new position in shares of Airbnb during the third quarter worth about $32,000. NewSquare Capital LLC raised its position in Airbnb by 86.4% in the 2nd quarter. NewSquare Capital LLC now owns 287 shares of the company’s stock valued at $38,000 after buying an additional 133 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in Airbnb by 55.5% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 311 shares of the company’s stock valued at $38,000 after buying an additional 111 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on ABNB shares. Morgan Stanley upped their price target on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 13th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Airbnb in a report on Wednesday, January 14th. BNP Paribas Exane started coverage on shares of Airbnb in a report on Monday, November 24th. They set a “hold” rating for the company. Citizens Jmp raised shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a research report on Wednesday, February 4th. Finally, Mizuho set a $156.00 price target on shares of Airbnb in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nineteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus target price of $148.85.

Airbnb Stock Down 0.8%

Shares of Airbnb stock opened at $120.32 on Wednesday. The stock has a market cap of $74.06 billion, a P/E ratio of 28.58, a P/E/G ratio of 1.87 and a beta of 1.15. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The business’s 50 day moving average is $131.42 and its 200-day moving average is $126.52.

Insider Activity

In other Airbnb news, CEO Brian Chesky sold 51,230 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $131.16, for a total value of $6,719,326.80. Following the completion of the sale, the chief executive officer owned 45,854 shares in the company, valued at $6,014,210.64. This trade represents a 52.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $133.28, for a total transaction of $7,730,240.00. Following the completion of the transaction, the director directly owned 460,015 shares of the company’s stock, valued at approximately $61,310,799.20. This trade represents a 11.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 970,022 shares of company stock valued at $120,106,336. 27.83% of the stock is owned by insiders.

About Airbnb

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.