Handelsbanken Fonder AB Sells 3,764 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Handelsbanken Fonder AB cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,557 shares of the company's stock after selling 3,764 shares during the quarter. Handelsbanken Fonder AB's holdings in Airbnb were worth $16,910,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Airbnb by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock valued at $1,244,514,000 after purchasing an additional 72,991 shares during the last quarter. Clearbridge Investments LLC grew 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 during the last quarter. Northern Trust Corp grew 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 during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Airbnb by 15.5% in the 4th 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 acquired a new stake in shares of Airbnb in the 4th quarter worth about $433,374,000. 80.76% of the stock is owned by institutional investors.

Airbnb Trading Up 0.5%

Shares of NASDAQ ABNB traded up $0.75 during mid-day trading on Thursday, hitting $138.81. 3,459,713 shares of the company traded hands, compared to its average volume of 5,014,601. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The stock has a market capitalization of $86.95 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 3.52 and a beta of 1.14. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $125.06 and a two-hundred day moving average of $130.82.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The firm's revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on ABNB shares. DA Davidson raised shares of Airbnb from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $170.00 to $155.00 in a report on Wednesday, April 30th. Truist Financial reaffirmed a "sell" rating and issued a $106.00 price objective (down previously from $112.00) on shares of Airbnb in a report on Friday, May 30th. Wedbush lowered Airbnb from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $150.00 to $135.00 in a report on Friday, May 2nd. Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Finally, Jefferies Financial Group raised Airbnb from a "hold" rating to a "buy" rating and increased their price objective for the stock from $165.00 to $185.00 in a report on Monday, March 10th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Airbnb presently has a consensus rating of "Hold" and an average price target of $141.23.

Insider Activity

In other news, insider Nathan Blecharczyk sold 2,245 shares of Airbnb stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $134.03, for a total transaction of $300,897.35. Following the transaction, the insider now owns 188,173 shares in the company, valued at approximately $25,220,827.19. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $129.38, for a total transaction of $27,724,193.30. Following the sale, the director now owns 2,509,155 shares of the company's stock, valued at approximately $324,634,473.90. This represents a 7.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,663,033 shares of company stock worth $208,384,185 over the last 90 days. 27.91% of the stock is owned by company insiders.

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.