Canada Pension Plan Investment Board Buys 21,405 Shares of Airbnb, Inc. $ABNB

Key Points

• The Canada Pension Plan Investment Board increased its stake in Airbnb by **34.5%**, acquiring an additional **21,405 shares**, bringing its total to **83,525 shares** valued at nearly **$9.98 million**.
• Insiders sold **1,434,296 shares** of Airbnb stock worth approximately **$191 million** over the last three months, with **insiders owning 27.83%** of the company's stock.
• Over the past year, Airbnb's shares reached a low of **$99.88** and a high of **$163.93**, with a current market cap of **$79.29 billion** and an earnings per share of **$1.03** for the latest quarter.

Canada Pension Plan Investment Board grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 34.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,525 shares of the company's stock after purchasing an additional 21,405 shares during the quarter. Canada Pension Plan Investment Board's holdings in Airbnb were worth $9,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABNB. Mercer Global Advisors Inc. ADV bought a new position in Airbnb during the fourth quarter worth about $4,139,000. Aptus Capital Advisors LLC boosted its position in shares of Airbnb by 85.1% in the fourth quarter. Aptus Capital Advisors LLC now owns 4,336 shares of the company's stock valued at $570,000 after acquiring an additional 1,993 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Airbnb by 28.4% in the fourth quarter. Ameriprise Financial Inc. now owns 938,636 shares of the company's stock valued at $123,349,000 after acquiring an additional 207,890 shares during the period. Benjamin Edwards Inc. boosted its position in shares of Airbnb by 23.7% in the fourth quarter. Benjamin Edwards Inc. now owns 6,938 shares of the company's stock valued at $912,000 after acquiring an additional 1,331 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of Airbnb by 0.7% in the fourth quarter. Baird Financial Group Inc. now owns 13,779 shares of the company's stock valued at $1,811,000 after acquiring an additional 93 shares during the period. Institutional investors own 80.76% of the company's stock.

Airbnb Trading Up 1.7%

Shares of ABNB stock traded up $2.06 during trading hours on Monday, hitting $125.87. 866,814 shares of the company's stock were exchanged, compared to its average volume of 5,216,067. The company has a market capitalization of $78.22 billion, a PE ratio of 30.49, a PEG ratio of 2.26 and a beta of 1.13. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The business's 50 day simple moving average is $131.64 and its 200-day simple moving average is $129.11.

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

Insider Activity

In related news, insider Nathan Blecharczyk sold 2,246 shares of Airbnb stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the transaction, the insider directly owned 182,514 shares of the company's stock, valued at $22,850,752.80. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Monday, July 7th. The stock was sold at an average price of $135.86, for a total transaction of $849,125.00. Following the completion of the transaction, the chief financial officer directly owned 461,361 shares in the company, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,438,926 shares of company stock valued at $188,880,433 in the last three months. Corporate insiders own 27.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BTIG Research restated a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. JPMorgan Chase & Co. raised their price objective on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Wedbush cut their price objective on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Finally, Barclays set a $105.00 target price on shares of Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $142.66.

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.