Natixis Advisors LLC Buys 36,954 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Natixis Advisors LLC increased its stake in Airbnb, owning 171,776 shares valued at approximately $20.52 million after a 27.4% increase during the first quarter.
• Airbnb's stock has received mixed ratings from analysts, with consensus rated as a "Hold" and an average price target of $142.10.
• CEO Brian Chesky sold 8,000 shares amid a broader trend of insider selling, contributing to a total of over 1.6 million shares sold within the last 90 days, valued at approximately $219.6 million.

Natixis Advisors LLC increased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 27.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,776 shares of the company's stock after purchasing an additional 36,954 shares during the quarter. Natixis Advisors LLC's holdings in Airbnb were worth $20,520,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Northern Trust Corp lifted its stake in 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 purchasing an additional 331,607 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Airbnb by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock valued at $548,683,000 after buying an additional 558,856 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Airbnb by 74.4% in the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after buying an additional 1,389,251 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after buying an additional 2,577,000 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Airbnb by 2,297.4% in the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after buying an additional 2,685,026 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Phillip Securities lowered Airbnb from a "hold" rating to a "moderate sell" rating in a report on Friday, May 9th. Truist Financial reissued a "sell" rating and issued a $106.00 target price (down previously from $112.00) on shares of Airbnb in a report on Friday, May 30th. BNP Paribas raised Airbnb to a "hold" rating in a report on Wednesday, July 16th. DA Davidson raised 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. Finally, Citigroup dropped their price objective on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Airbnb has an average rating of "Hold" and an average target price of $142.10.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the completion of the sale, the chief executive officer directly owned 40,800 shares in the company, valued at $5,235,864. This trade represents a 16.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the completion of the sale, the director owned 1,180,015 shares of the company's stock, valued at approximately $164,494,091. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,435,023 shares of company stock worth $192,583,867. Company insiders own 27.83% of the company's stock.

Airbnb Trading Down 0.8%

Shares of NASDAQ ABNB traded down $1.00 during mid-day trading on Tuesday, hitting $129.96. The company had a trading volume of 7,594,149 shares, compared to its average volume of 3,595,307. The company has a market capitalization of $81.41 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 2.44 and a beta of 1.13. The firm has a 50-day simple moving average of $135.22 and a two-hundred day simple moving average of $131.18. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

Airbnb 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.