Resona Asset Management Co. Ltd. Purchases 9,764 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Airbnb by 7.7%, owning 135,772 shares valued at approximately $16.2 million at the end of the last reporting period.
• During the first quarter, other institutional investors like Pacer Advisors Inc. and Principal Financial Group Inc. significantly boosted their positions in Airbnb, with Pacer Advisors increasing its stake by 2,297.4%.
• Insider trading activity shows that key executives, including CTO Aristotle N. Balogh and CFO Elinor Mertz, sold portions of their shares, with a total of 1.67 million shares sold in the past 90 days valued at over $223 million.

Resona Asset Management Co. Ltd. raised its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 7.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,772 shares of the company's stock after acquiring an additional 9,764 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Airbnb were worth $16,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Park Square Financial Group LLC purchased a new stake in shares of Airbnb in the fourth quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in Airbnb during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC grew its holdings in Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Finally, SouthState Corp grew its stake in shares of Airbnb by 216.1% in the first quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after acquiring an additional 201 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ABNB shares. Piper Sandler lowered their price objective on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Barclays set a $105.00 price objective on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Wells Fargo & Company set a $110.00 price objective on Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Jefferies Financial Group lowered their price objective on Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research report on Monday. Finally, Benchmark decreased their target price on Airbnb from $178.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $142.72.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $139.39, for a total value of $83,634.00. Following the sale, the chief technology officer owned 209,777 shares in the company, valued at approximately $29,240,816.03. This represents a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the sale, the chief financial officer owned 461,361 shares in the company, valued at approximately $62,680,505.46. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,671,023 shares of company stock worth $223,195,427. 27.91% of the stock is currently owned by insiders.

Airbnb Stock Performance

NASDAQ ABNB traded up $0.46 during trading on Friday, hitting $125.10. The stock had a trading volume of 4,307,326 shares, compared to its average volume of 5,331,866. The company has a market capitalization of $78.36 billion, a PE ratio of 30.29, a P/E/G ratio of 2.27 and a beta of 1.13. The company's 50-day moving average price is $134.07 and its two-hundred day moving average price is $130.75. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

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