Norinchukin Bank The Purchases 10,746 Shares of Airbnb, Inc. $ABNB

Key Points

• Norinchukin Bank increased its stake in Airbnb, Inc. by 43.4%, now holding 35,479 shares valued at approximately $4.24 million.
• Major institutional investors like Vanguard Group and Principal Financial Group have also increased their positions in Airbnb, indicating growing confidence in the company.
• Recent price target adjustments from analysts set a consensus target of $142.72, reflecting mixed ratings including a "Hold" and a "Buy," highlighting varying outlooks on the stock's performance.

Norinchukin Bank The increased its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 43.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,479 shares of the company's stock after acquiring an additional 10,746 shares during the quarter. Norinchukin Bank The's holdings in Airbnb were worth $4,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Airbnb in the 4th quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb in the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC lifted its stake in shares of Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after purchasing an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC lifted its stake in shares of Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after purchasing an additional 174 shares during the period. Finally, SouthState Corp lifted its stake in shares of Airbnb by 216.1% in the 1st quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Stock Performance

Shares of ABNB stock traded down $1.26 during mid-day trading on Tuesday, hitting $126.89. The company's stock had a trading volume of 4,304,475 shares, compared to its average volume of 5,254,293. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The business has a 50-day moving average price of $132.44 and a 200 day moving average price of $130.49. The stock has a market cap of $78.85 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 2.37 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results 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. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company's revenue was up 12.7% on a year-over-year basis. Equities research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total value of $30,552,560.00. Following the completion of the transaction, the director owned 944,015 shares in the company, valued at $122,212,181.90. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total value of $826,750.00. Following the completion of the transaction, the chief financial officer owned 467,611 shares of the company's stock, valued at $61,855,583.08. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,693,339 shares of company stock worth $224,438,616 over the last quarter. 27.91% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ABNB has been the subject of a number of research analyst reports. Wedbush lowered their target price on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Susquehanna lowered their target price on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research note on Monday, May 5th. Truist Financial reiterated a "sell" rating and set a $106.00 price objective (down previously from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Wells Fargo & Company set a $110.00 price objective on Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Finally, B. Riley lowered their price objective on Airbnb from $145.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, Airbnb presently has a consensus rating of "Hold" and a consensus target price of $142.72.

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.