APG Asset Management N.V. Lowers Position in Airbnb, Inc. $ABNB

Key Points

• APG Asset Management N.V. has reduced its stake in Airbnb by 21.5%, selling 13,470 shares and retaining 49,108 shares valued at approximately $5.43 million.
• Other institutional investors, including Northwestern Mutual Wealth Management, have significantly increased their holdings in Airbnb, with increases ranging from 1,291.8% to 43.4% during the 1st quarter.
• Analysts have mixed views on Airbnb's stock; while Benchmark and UBS have lowered price targets, RBC has raised theirs, resulting in a consensus rating of "Hold" with an average target price of $142.72.

APG Asset Management N.V. decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 21.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,108 shares of the company's stock after selling 13,470 shares during the period. APG Asset Management N.V.'s holdings in Airbnb were worth $5,431,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Airbnb during the fourth quarter valued at approximately $26,000. Orion Capital Management LLC bought a new position in Airbnb during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC lifted its position 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 period. Bartlett & CO. Wealth Management LLC lifted its position 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 period. Finally, SouthState Corp grew its position in Airbnb by 216.1% during the first quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after buying an additional 201 shares during the period. Institutional investors own 80.76% of the company's stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total transaction of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares of the company's stock, valued at $62,680,505.46. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the transaction, the director directly owned 944,015 shares in the company, valued at $122,212,181.90. This represents a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,445,355 shares of company stock valued at $192,533,558 over the last 90 days. 27.91% of the stock is currently owned by corporate insiders.

Airbnb Stock Up 0.1%

NASDAQ:ABNB traded up $0.07 during trading hours on Friday, hitting $130.53. 4,157,858 shares of the stock traded hands, compared to its average volume of 5,770,316. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The company has a market cap of $81.12 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. The stock has a 50 day moving average price of $132.20 and a 200 day moving average price of $130.33.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $0.86 earnings per share. The company's revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Susquehanna cut their target price on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research report on Monday, May 5th. Phillip Securities upgraded shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 8th. Barclays set a $105.00 target price on shares of Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $142.72.

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.