Airbnb, Inc. $ABNB Stock Holdings Decreased by Ilmarinen Mutual Pension Insurance Co

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Airbnb, Inc. by 32.5% in Q1, now holding 67,500 shares valued at $8,064,000.
• Insider Nathan Blecharczyk sold 2,246 shares and Director Joseph Gebbia sold 236,000 shares, indicating significant insider activity that resulted in ownership decreases.
• Analysts have mixed views on Airbnb, with new price targets ranging from $104.00 (Truist Financial) to $160.00 (Jefferies), while maintaining a consensus rating of "Hold".

Ilmarinen Mutual Pension Insurance Co lowered its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 32.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 67,500 shares of the company's stock after selling 32,500 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Airbnb were worth $8,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ABNB. Park Square Financial Group LLC bought a new stake in shares of Airbnb in the 4th quarter worth about $26,000. Orion Capital Management LLC bought a new stake in shares of Airbnb in the 4th quarter worth about $28,000. Stonebridge Financial Group LLC increased its position in shares of Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its position in shares of Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Finally, SouthState Corp increased its position in shares of Airbnb by 216.1% in the 1st quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Insiders Place Their Bets

In other news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider owned 182,514 shares in the company, valued at $22,850,752.80. The trade was a 1.22% 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, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $127.53, for a total transaction of $30,097,080.00. Following the sale, the director owned 1,412,015 shares in the company, valued at $180,074,272.95. This represents a 14.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,438,926 shares of company stock worth $188,880,433. Company insiders own 27.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on ABNB. Jefferies Financial Group decreased their price target on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a report on Monday, August 11th. Truist Financial reduced their target price on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a research note on Wednesday, September 3rd. Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Morgan Stanley reduced their target price on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Finally, Zacks Research raised shares of Airbnb to a "hold" rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Airbnb has a consensus rating of "Hold" and a consensus target price of $142.66.

Airbnb Trading Down 0.6%

ABNB stock opened at $123.81 on Wednesday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The company has a market capitalization of $76.94 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 2.27 and a beta of 1.13. The firm's 50-day moving average is $131.25 and its two-hundred day moving average is $128.92.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business 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 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.

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