E. Ohman J or Asset Management AB Reduces Stock Position in Airbnb, Inc. $ABNB

Key Points

• E. Ohman J or Asset Management AB cut its Airbnb stake by 95.5% in the first quarter, selling 247,237 shares and leaving it with 11,694 shares valued at about $1.48 million.
• Airbnb reported mixed Q1 earnings: EPS of $0.26 missed estimates, while revenue of $2.68 billion came in above expectations and rose 17.9% year over year.
• Wall Street sentiment remains constructive, with multiple analysts raising price targets and the stock carrying a Moderate Buy consensus and an average target price of $157.96.

E. Ohman J or Asset Management AB trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 95.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,694 shares of the company's stock after selling 247,237 shares during the period. E. Ohman J or Asset Management AB's holdings in Airbnb were worth $1,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Harris Associates L P increased its stake in shares of Airbnb by 21.0% in the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company's stock worth $2,537,205,000 after buying an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC raised its holdings in Airbnb by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company's stock valued at $1,368,338,000 after acquiring an additional 47,966 shares in the last quarter. AQR Capital Management LLC boosted its stake in Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company's stock valued at $917,845,000 after acquiring an additional 2,492,847 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company's stock valued at $824,356,000 after acquiring an additional 216,455 shares during the last quarter. Finally, Independent Franchise Partners LLP grew its holdings in Airbnb by 23.6% during the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company's stock worth $698,452,000 after acquiring an additional 981,624 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Airbnb stock opened at $142.41 on Monday. The company has a market cap of $85.83 billion, a PE ratio of 35.08, a P/E/G ratio of 1.53 and a beta of 1.16. The company has a fifty day moving average price of $136.36 and a two-hundred day moving average price of $132.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $147.25.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. Research analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABNB shares. Mizuho boosted their target price on shares of Airbnb from $156.00 to $175.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. Susquehanna increased their price target on shares of Airbnb from $150.00 to $170.00 and gave the stock a "positive" rating in a research report on Friday, May 8th. Wells Fargo & Company increased their price target on shares of Airbnb from $178.00 to $181.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Raymond James Financial upgraded Airbnb from a "market perform" rating to a "strong-buy" rating in a research note on Monday, May 4th. Finally, Cantor Fitzgerald raised Airbnb from a "neutral" rating to an "overweight" rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $157.96.

Insider Activity

In other Airbnb news, insider Nathan Blecharczyk sold 60,136 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $145.70, for a total value of $8,761,815.20. Following the transaction, the insider owned 11,920 shares of the company's stock, valued at $1,736,744. This trade represents a 83.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian Chesky sold 265,746 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the completion of the transaction, the chief executive officer directly owned 11,206,389 shares in the company, valued at $1,481,708,753.58. This represents a 2.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,914,860 shares of company stock valued at $259,869,869. Company insiders own 27.21% of the company's stock.

Airbnb Profile

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

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