Northwestern Mutual Wealth Management Co. Has $39.24 Million Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its position in Airbnb, Inc. by 1,291.8% in the first quarter, owning 328,486 shares worth approximately $39.24 million.
• Airbnb's stock price has seen fluctuations, with a recent opening at $129.92 and a market cap of $80.74 billion, alongside a price-to-earnings ratio of 31.46.
• Insider trading reports indicate significant stock sales, including CEO Brian Chesky selling 8,000 shares and Director Joseph Gebbia selling 236,000 shares, indicating a decrease in their ownership stakes.

Northwestern Mutual Wealth Management Co. grew its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 1,291.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 328,486 shares of the company's stock after buying an additional 304,885 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.05% of Airbnb worth $39,241,000 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. MJP Associates Inc. ADV increased its stake in shares of Airbnb by 1.8% in the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock valued at $490,000 after buying an additional 67 shares in the last quarter. Ellevest Inc. increased its stake in shares of Airbnb by 3.1% in the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock valued at $349,000 after buying an additional 80 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of Airbnb by 12.2% in the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock valued at $88,000 after buying an additional 80 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in shares of Airbnb by 4.4% in the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock valued at $237,000 after buying an additional 83 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Airbnb by 7.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock valued at $176,000 after buying an additional 90 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Up 2.8%

Airbnb stock opened at $129.92 on Monday. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The stock has a market cap of $80.74 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 2.37 and a beta of 1.13. The business's 50-day simple moving average is $132.62 and its 200 day simple moving average is $130.54.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.02 billion. During the same quarter last year, the business earned $0.86 earnings per share. The company's revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 8,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the transaction, the chief executive officer owned 40,800 shares in the company, valued at approximately $5,235,864. This trade represents a 16.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction dated 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 transaction, the director owned 944,015 shares in the company, valued at approximately $122,212,181.90. This trade represents a 20.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,692,739 shares of company stock worth $224,363,640. Insiders own 27.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ABNB shares. Morgan Stanley lowered their target price on Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Barclays set a $105.00 target price on Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. UBS Group decreased their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. DA Davidson upgraded Airbnb from a "neutral" rating to a "buy" rating and decreased their price target for the company from $170.00 to $155.00 in a report on Wednesday, April 30th. Finally, Phillip Securities upgraded Airbnb from a "moderate sell" rating to a "hold" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Airbnb currently has an average rating of "Hold" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.