Axa S.A. Lowers Holdings in Airbnb, Inc. (NASDAQ:ABNB)

AXA S.A. lowered its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,418 shares of the company's stock after selling 13,951 shares during the period. AXA S.A.'s holdings in Airbnb were worth $5,837,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Airbnb during the fourth quarter valued at $433,374,000. Clearbridge Investments LLC increased its holdings in shares of Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after acquiring an additional 2,590,475 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Airbnb by 174.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock worth $245,268,000 after purchasing an additional 1,185,892 shares during the last quarter. AQR Capital Management LLC boosted its stake in Airbnb by 52.1% in the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company's stock worth $310,896,000 after purchasing an additional 809,964 shares in the last quarter. Finally, Parnassus Investments LLC grew its position in Airbnb by 8,324.9% during the 4th quarter. Parnassus Investments LLC now owns 655,539 shares of the company's stock valued at $86,144,000 after purchasing an additional 647,758 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $161.05, for a total transaction of $112,735.00. Following the transaction, the chief technology officer now owns 180,514 shares in the company, valued at $29,071,779.70. The trade was a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian Chesky sold 230,772 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the transaction, the chief executive officer now owns 12,000,913 shares in the company, valued at $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 2,173,970 shares of company stock valued at $293,686,892 in the last ninety days. Corporate insiders own 27.91% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Gordon Haskett upgraded shares of Airbnb from a "sell" rating to a "hold" rating and set a $143.00 target price on the stock in a research note on Friday, February 14th. Barclays lowered their price objective on Airbnb from $120.00 to $103.00 and set an "underweight" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. reduced their target price on Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. JMP Securities reaffirmed a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Finally, Robert W. Baird reduced their price objective on Airbnb from $175.00 to $160.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $141.43.

Airbnb Price Performance

Shares of NASDAQ:ABNB traded up $0.67 during midday trading on Friday, reaching $127.06. 6,144,318 shares of the company were exchanged, compared to its average volume of 4,859,217. The stock has a market cap of $80.12 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The business's fifty day moving average is $121.52 and its two-hundred day moving average is $131.18. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company earned $0.41 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Airbnb 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.