OVERSEA CHINESE BANKING Corp Ltd Increases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Airbnb by 16.3%, owning a total of 48,249 shares valued at approximately $5.8 million.
• Analyst ratings for Airbnb are mixed, with five sell ratings, seventeen holds, thirteen buys, and two strong buys; the average price target is $142.10.
• Airbnb's stock has shown significant insider selling, with corporate insiders selling over 1.6 million shares worth nearly $220 million in the last three months.

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,249 shares of the company's stock after acquiring an additional 6,762 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Airbnb were worth $5,804,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ABNB. O Shaughnessy Asset Management LLC grew its stake in shares of Airbnb by 2.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 26,464 shares of the company's stock valued at $3,478,000 after acquiring an additional 604 shares during the period. OLD Mission Capital LLC bought a new position in shares of Airbnb during the 4th quarter valued at approximately $347,000. Huntington National Bank lifted its holdings in Airbnb by 13.5% in the 4th quarter. Huntington National Bank now owns 2,719 shares of the company's stock worth $357,000 after purchasing an additional 324 shares in the last quarter. Nicolet Advisory Services LLC purchased a new position in Airbnb in the 4th quarter worth approximately $212,000. Finally, Westpac Banking Corp lifted its holdings in Airbnb by 16.9% in the 4th quarter. Westpac Banking Corp now owns 18,727 shares of the company's stock worth $2,461,000 after purchasing an additional 2,712 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $138.83, for a total value of $32,763,880.00. Following the completion of the sale, the director directly owned 472,015 shares in the company, valued at approximately $65,529,842.45. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the sale, the chief technology officer owned 209,777 shares of the company's stock, valued at approximately $29,240,816.03. This trade represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,649,308 shares of company stock valued at $218,906,636. 27.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank Of Canada lowered their price target on Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Benchmark lowered their price target on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wedbush cut Airbnb from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $150.00 to $135.00 in a report on Friday, May 2nd. Phillip Securities cut Airbnb from a "hold" rating to a "moderate sell" rating in a report on Friday, May 9th. Finally, Citigroup lowered their price target on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $142.10.

Airbnb Stock Performance

ABNB stock traded up $2.94 during trading on Monday, reaching $130.96. 5,270,967 shares of the company traded hands, compared to its average volume of 3,508,969. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The business has a 50 day simple moving average of $135.13 and a 200 day simple moving average of $131.21. The company has a market capitalization of $82.03 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter last year, the business posted $0.41 earnings per share. The company's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Airbnb Company 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.