Airbnb, Inc. (NASDAQ:ABNB) Stake Trimmed by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 1.9% during the fourth quarter, HoldingsChannel reports. The firm owned 5,637 shares of the company’s stock after selling 107 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Airbnb were worth $741,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Laidlaw Wealth Management LLC increased its stake in Airbnb by 14.6% in the 4th quarter. Laidlaw Wealth Management LLC now owns 7,279 shares of the company’s stock worth $957,000 after purchasing an additional 929 shares in the last quarter. Global Retirement Partners LLC increased its stake in Airbnb by 19.8% in the 4th quarter. Global Retirement Partners LLC now owns 2,128 shares of the company’s stock worth $280,000 after purchasing an additional 351 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Airbnb in the 4th quarter worth about $59,000. Venturi Wealth Management LLC increased its stake in Airbnb by 826.3% in the 4th quarter. Venturi Wealth Management LLC now owns 4,446 shares of the company’s stock worth $584,000 after purchasing an additional 3,966 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in Airbnb by 1.1% in the 4th quarter. D.A. Davidson & CO. now owns 31,907 shares of the company’s stock worth $4,193,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity

In other Airbnb news, CFO Elinor Mertz sold 10,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $136.97, for a total value of $1,438,185.00. Following the sale, the chief financial officer now directly owns 503,738 shares in the company, valued at $68,996,993.86. This represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $131.88, for a total value of $28,259,905.80. Following the completion of the sale, the director now owns 1,285,715 shares in the company, valued at $169,560,094.20. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,384,117 shares of company stock worth $185,055,042. Company insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a research note on Friday, February 14th. Barclays lifted their target price on Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, February 14th. Truist Financial lowered their target price on Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. DA Davidson lifted their target price on Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Robert W. Baird raised Airbnb from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $140.00 to $175.00 in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $147.00.

Airbnb Stock Down 0.5 %

Shares of ABNB stock opened at $160.60 on Wednesday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The firm has a market cap of $101.82 billion, a PE ratio of 56.35, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. The stock has a 50 day moving average of $134.42 and a 200-day moving average of $130.45. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. On average, equities analysts predict that Airbnb, Inc. will post 3.97 EPS 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.