AIA Group Ltd Sells 7,058 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• AIA Group Ltd reduced its stake in Airbnb, Inc. by 25.7%, now holding 20,443 shares valued at approximately $2.44 million following the sale of 7,058 shares in Q1.
• Airbnb reported earnings of $1.03 per share, exceeding expectations, with quarterly revenue of $3.1 billion, representing a year-over-year increase of 12.7%.
• Analysts' target prices for Airbnb's stock vary, with Barclays setting a target of $105 and Jefferies at $160, while the average target stands at $142.72.

AIA Group Ltd lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 25.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,443 shares of the company's stock after selling 7,058 shares during the quarter. AIA Group Ltd's holdings in Airbnb were worth $2,442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MJP Associates Inc. ADV boosted its holdings in shares of Airbnb by 1.8% during the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock worth $490,000 after buying an additional 67 shares in the last quarter. Ellevest Inc. raised its position in shares of Airbnb by 3.1% during the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock worth $349,000 after purchasing an additional 80 shares during the period. Harbour Investments Inc. raised its position in shares of Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after purchasing an additional 80 shares during the period. Koshinski Asset Management Inc. raised its position in shares of Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after purchasing an additional 83 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in shares of Airbnb by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of research reports. Barclays set a $105.00 target price on Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Piper Sandler lowered their price target on Airbnb from $145.00 to $132.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. BTIG Research reissued a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Wells Fargo & Company set a $110.00 price target on Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets set a $124.00 price objective on Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen 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 MarketBeat, Airbnb has a consensus rating of "Hold" and a consensus target price of $142.72.

Airbnb Stock Performance

Shares of NASDAQ ABNB traded up $0.43 during mid-day trading on Friday, hitting $125.07. 3,422,360 shares of the stock traded hands, compared to its average volume of 5,324,517. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The company has a market cap of $78.35 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.27 and a beta of 1.13. The stock has a fifty day moving average price of $134.07 and a 200-day moving average price of $130.75.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the sale, the chief accounting officer owned 42,619 shares in the company, valued at $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the sale, the chief technology officer owned 209,777 shares of the company's stock, valued at approximately $29,240,816.03. The trade was a 0.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,671,023 shares of company stock valued at $223,195,427. 27.91% of the stock is 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.