Principal Financial Group Inc. Has $388.92 Million Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Principal Financial Group Inc. raised its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 74.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,255,682 shares of the company's stock after buying an additional 1,389,251 shares during the quarter. Principal Financial Group Inc. owned 0.52% of Airbnb worth $388,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Airbnb by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock valued at $1,244,514,000 after buying an additional 72,991 shares during the period. Clearbridge Investments LLC increased its position in shares of Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after acquiring an additional 2,590,475 shares in the last quarter. Northern Trust Corp increased its position in shares of Airbnb by 8.4% during the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock worth $564,647,000 after acquiring an additional 331,607 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Airbnb by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after acquiring an additional 558,856 shares during the period. Finally, Norges Bank bought a new stake in Airbnb in the 4th quarter valued at $433,374,000. Institutional investors own 80.76% of the company's stock.

Airbnb Stock Performance

Shares of NASDAQ ABNB traded up $1.11 during trading hours on Friday, reaching $136.50. 2,628,584 shares of the stock were exchanged, compared to its average volume of 5,038,024. The firm has a market capitalization of $85.50 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 2.54 and a beta of 1.13. The stock's fifty day simple moving average is $131.46 and its 200 day simple moving average is $130.45. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. Research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $123.43, for a total transaction of $771,437.50. Following the sale, the chief financial officer owned 485,080 shares of the company's stock, valued at $59,873,424.40. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total value of $30,363,760.00. Following the sale, the director owned 1,416,015 shares of the company's stock, valued at approximately $182,184,489.90. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,607,528 shares of company stock valued at $201,688,571. 27.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABNB. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Robert W. Baird reduced their price objective on Airbnb from $175.00 to $160.00 and set an "outperform" rating for the company in a research report on Tuesday, March 25th. Susquehanna dropped their target price on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research report on Monday, May 5th. B. Riley reduced their price target on Airbnb from $145.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, Jefferies Financial Group raised shares of Airbnb from a "hold" rating to a "buy" rating and raised their price target for the stock from $165.00 to $185.00 in a research note on Monday, March 10th. Five 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $141.23.

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.