Allstate Corp Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Allstate Corp acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,914 shares of the company’s stock, valued at approximately $1,697,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC grew its position in Airbnb by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after purchasing an additional 146,761 shares during the last quarter. Norges Bank bought a new stake in shares of Airbnb in the 4th quarter worth approximately $433,374,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Airbnb by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,790,644 shares of the company’s stock worth $366,719,000 after purchasing an additional 84,348 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Airbnb by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company’s stock valued at $299,272,000 after purchasing an additional 80,610 shares during the period. Finally, Temasek Holdings Private Ltd raised its stake in shares of Airbnb by 91.3% in the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock valued at $294,726,000 after purchasing an additional 1,109,076 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ABNB shares. UBS Group boosted their price target on shares of Airbnb from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Wedbush reissued an “outperform” rating and issued a $155.00 target price on shares of Airbnb in a research note on Tuesday, February 4th. Tigress Financial raised their price target on shares of Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Gordon Haskett upgraded Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price objective on the stock in a research note on Friday, February 14th. Finally, JMP Securities restated a “market perform” rating on shares of Airbnb in a research report on Friday, February 14th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $147.36.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $131.87, for a total transaction of $2,637,400.00. Following the sale, the chief technology officer now owns 185,414 shares of the company’s stock, valued at approximately $24,450,544.18. This trade represents a 9.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian Chesky sold 230,772 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $161.16, for a total value of $37,191,215.52. Following the completion of the transaction, the chief executive officer now directly owns 12,000,913 shares of the company’s stock, valued at approximately $1,934,067,139.08. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,270,894 shares of company stock worth $317,578,168 in the last ninety days. Company insiders own 27.83% of the company’s stock.

Airbnb Price Performance

ABNB opened at $120.69 on Friday. The company has a fifty day moving average price of $135.29 and a two-hundred day moving average price of $133.71. The firm has a market capitalization of $76.10 billion, a PE ratio of 29.22, a P/E/G ratio of 3.52 and a beta of 1.10. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $166.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data 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 32.29% and a net margin of 23.85%. As a group, analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share 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.