Legal & General Group Plc Has $359.78 Million Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• Legal & General Group Plc trimmed its Airbnb stake by 0.5% in the fourth quarter but still held 2.65 million shares worth about $359.8 million at the end of the period.
• Airbnb insiders sold shares recently, including director Joseph Gebbia and insider Nathan Blecharczyk, with insider sales totaling $62.2 million over the last 90 days.
• Airbnb reported Q1 revenue of $2.68 billion, above estimates, but EPS of $0.26 missed expectations; analysts currently have a Moderate Buy consensus and an average price target of $157.67.

Legal & General Group Plc cut its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,650,918 shares of the company's stock after selling 13,432 shares during the quarter. Legal & General Group Plc owned approximately 0.43% of Airbnb worth $359,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. North Star Asset Management Inc. increased its stake in shares of Airbnb by 13.4% in the fourth quarter. North Star Asset Management Inc. now owns 78,564 shares of the company's stock valued at $10,663,000 after buying an additional 9,294 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in Airbnb by 14.0% in the fourth quarter. Prospera Financial Services Inc now owns 3,145 shares of the company's stock valued at $427,000 after acquiring an additional 386 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Airbnb by 24.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,085 shares of the company's stock worth $554,000 after buying an additional 802 shares during the last quarter. St. Louis Trust Co bought a new position in Airbnb during the fourth quarter worth about $385,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Airbnb by 80.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 8,314 shares of the company's stock worth $1,128,000 after buying an additional 3,699 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 58,000 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $140.37, for a total transaction of $8,141,460.00. Following the completion of the transaction, the director directly owned 54,015 shares in the company, valued at $7,582,085.55. This trade represents a 51.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 60,136 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was 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 SEC filing for this sale provides additional information. Insiders sold 454,317 shares of company stock worth $62,219,594 over the last ninety days. 27.21% of the stock is owned by insiders.

Airbnb Trading Up 0.2%

Shares of Airbnb stock opened at $132.68 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock has a market cap of $79.97 billion, a P/E ratio of 32.68, a P/E/G ratio of 1.42 and a beta of 1.20. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $147.25. The business's 50 day moving average is $133.76 and its 200-day moving average is $130.00.

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

Analyst Ratings Changes

A number of brokerages have issued reports on ABNB. Robert W. Baird set a $150.00 target price on Airbnb in a report on Friday, May 8th. Citigroup reissued an "outperform" rating on shares of Airbnb in a research report on Friday, May 8th. TD Cowen lifted their target price on Airbnb from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 13th. Cantor Fitzgerald raised Airbnb from a "neutral" rating to an "overweight" rating in a research report on Monday, May 4th. Finally, UBS Group lifted their target price on Airbnb from $153.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.67.

Airbnb Company 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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