Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 25.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 21,201 shares of the company's stock after selling 7,207 shares during the quarter. Baker Avenue Asset Management LP's holdings in Airbnb were worth $2,786,000 at the end of the most recent reporting period.

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

Airbnb Stock Up 0.5 %

Shares of NASDAQ:ABNB traded up $0.67 during trading on Friday, hitting $127.06. 6,144,218 shares of the company were exchanged, compared to its average volume of 4,898,828. The firm's 50 day moving average price is $121.81 and its 200-day moving average price is $131.24. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $80.12 billion, a P/E ratio of 30.77, a PEG ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The firm had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Airbnb's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. UBS Group dropped their price objective on shares of Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Gordon Haskett raised shares of Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price objective for the company in a report on Friday, February 14th. Cantor Fitzgerald decreased their price objective on shares of Airbnb from $101.00 to $100.00 and set an "underweight" rating for the company in a research report on Friday, May 2nd. Royal Bank of Canada cut their price target on Airbnb from $160.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Evercore ISI lowered their price target on Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Airbnb has a consensus rating of "Hold" and a consensus price target of $142.31.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the firm's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total value of $23,305,636.60. Following the completion of the sale, the director now owns 2,294,870 shares of the company's stock, valued at approximately $249,590,061.20. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $161.05, for a total transaction of $112,735.00. Following the completion of the transaction, the chief technology officer now directly owns 180,514 shares of the company's stock, valued at approximately $29,071,779.70. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,173,970 shares of company stock worth $293,686,892. 27.91% of the stock is currently owned by insiders.

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.