Caisse DE Depot ET Placement DU Quebec Has $70.85 Million Stake in Airbnb, Inc. $ABNB

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Airbnb by 69.3%, acquiring an additional 242,846 shares, bringing its total holdings to 593,088 shares valued at approximately $70.85 million.
• Multiple large investors, including Stonebridge Financial Group and Bartlett & CO. Wealth Management, significantly increased their positions in Airbnb, with over 80% of the company's stock owned by institutional investors.
• Brokerages have recently downgraded their price targets for Airbnb, with Morgan Stanley setting a target of $120.00 and UBS Group at $148.00, highlighting a mixed outlook on the stock's performance.

Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 69.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 593,088 shares of the company's stock after purchasing an additional 242,846 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.09% of Airbnb worth $70,850,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Airbnb by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock worth $4,475,286,000 after purchasing an additional 604,120 shares during the period. Northern Trust Corp increased its holdings in shares of Airbnb by 2.5% during the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock worth $525,979,000 after purchasing an additional 106,135 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after purchasing an additional 1,389,251 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after purchasing an additional 2,577,000 shares during the period. Finally, Akre Capital Management LLC increased its holdings in shares of Airbnb by 10.1% during the 1st quarter. Akre Capital Management LLC now owns 2,917,733 shares of the company's stock worth $348,552,000 after purchasing an additional 268,335 shares during the period. Institutional investors own 80.76% of the company's stock.

Insider Activity

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider directly owned 182,514 shares of the company's stock, valued at approximately $22,850,752.80. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the sale, the chief accounting officer directly owned 42,619 shares in the company, valued at $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,445,355 shares of company stock valued at $192,533,558 over the last three months. 27.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. B. Riley dropped their price objective on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. UBS Group decreased their target price on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Evercore ISI decreased their target price on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $142.72.

Airbnb Stock Performance

Airbnb stock traded up $0.61 during trading hours on Thursday, hitting $130.46. 3,655,399 shares of the stock were exchanged, compared to its average volume of 5,781,291. The stock has a market capitalization of $81.07 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.37 and a beta of 1.13. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The business's 50-day moving average is $132.23 and its two-hundred day moving average is $130.43.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping 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 net margin of 22.67% and a return on equity of 32.19%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share 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.