abrdn plc Grows Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

abrdn plc boosted its position in Airbnb, Inc. (NASDAQ:ABNB) by 69.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 173,500 shares of the company’s stock after purchasing an additional 71,239 shares during the period. abrdn plc’s holdings in Airbnb were worth $23,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Airbnb by 43.0% in the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after purchasing an additional 10,301,746 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Airbnb in the third quarter valued at $235,338,000. Northern Trust Corp grew its position in shares of Airbnb by 41.3% in the third quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock valued at $598,745,000 after purchasing an additional 1,276,456 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Airbnb by 69.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,301,395 shares of the company’s stock valued at $315,774,000 after purchasing an additional 943,520 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its position in shares of Airbnb by 48.3% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock valued at $339,926,000 after purchasing an additional 813,074 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $155.83, for a total transaction of $93,498.00. Following the transaction, the chief technology officer now owns 221,704 shares in the company, valued at approximately $34,548,134.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CTO Aristotle N. Balogh sold 78,682 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the transaction, the chief technology officer now owns 144,331 shares in the company, valued at approximately $24,435,238.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $155.83, for a total value of $93,498.00. Following the transaction, the chief technology officer now owns 221,704 shares in the company, valued at approximately $34,548,134.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 463,674 shares of company stock valued at $73,516,515. Insiders own 30.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target on Airbnb from $148.00 to $143.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Tigress Financial lifted their price objective on Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, April 5th. B. Riley Financial initiated coverage on Airbnb in a research note on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price objective for the company. Piper Sandler lifted their price objective on Airbnb from $136.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Benchmark initiated coverage on Airbnb in a research note on Thursday, April 11th. They set a “buy” rating and a $190.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $147.58.

Airbnb Trading Up 2.8 %

NASDAQ ABNB opened at $160.95 on Wednesday. Airbnb, Inc. has a 1-year low of $103.55 and a 1-year high of $170.10. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $159.80 and a 200-day moving average of $142.89. The firm has a market cap of $104.15 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. As a group, sell-side analysts forecast that Airbnb, Inc. will post 4.63 EPS for the current year.

Airbnb Company Profile

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.