Vident Advisory LLC Raises Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Vident Advisory LLC grew its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 13.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,492 shares of the company's stock after purchasing an additional 3,363 shares during the quarter. Vident Advisory LLC's holdings in Airbnb were worth $3,613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ABNB. Norges Bank purchased a new position in Airbnb in the fourth quarter valued at $433,374,000. Clearbridge Investments LLC grew its position in Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after purchasing an additional 2,590,475 shares during the last quarter. Two Sigma Advisers LP increased its stake in Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the period. Principal Financial Group Inc. raised its holdings 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 valued at $245,268,000 after buying an additional 1,185,892 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings 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 valued at $310,896,000 after buying an additional 809,964 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABNB. Evercore ISI dropped 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. Susquehanna dropped their target price on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a report on Monday, May 5th. Morgan Stanley upped their price target on Airbnb from $125.00 to $130.00 and gave the stock an "underweight" rating in a research note on Thursday, April 17th. Canaccord Genuity Group decreased their price target on Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Robert W. Baird lowered their price objective on shares of Airbnb from $175.00 to $160.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 25th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Airbnb currently has an average rating of "Hold" and a consensus target price of $141.43.

Insider Activity

In other Airbnb news, CEO Brian Chesky sold 38,461 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $126.60, for a total value of $4,869,162.60. Following the completion of the transaction, the chief executive officer now directly owns 11,770,144 shares in the company, valued at approximately $1,490,100,230.40. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $145.01, for a total value of $101,507.00. Following the transaction, the chief technology officer now directly owns 173,519 shares in the company, valued at approximately $25,161,990.19. This represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,631,064 shares of company stock worth $204,677,803 over the last three months. 27.91% of the stock is currently owned by corporate insiders.

Airbnb Price Performance

ABNB traded down $0.93 during midday trading on Monday, reaching $126.72. 4,370,975 shares of the company's stock were exchanged, compared to its average volume of 4,911,465. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The stock has a market capitalization of $79.38 billion, a PE ratio of 30.68, a P/E/G ratio of 3.52 and a beta of 1.14. 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 business's 50-day moving average price is $122.43 and its 200 day moving average price is $130.86.

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