Securian Asset Management Inc. Trims Stock Position in Airbnb, Inc. $ABNB

Key Points

• Securian Asset Management cut its Airbnb stake by 44.2% in the fourth quarter, leaving it with 11,564 shares worth about $1.57 million.
• Airbnb reported Q1 earnings of $0.26 per share, missing analyst estimates, though revenue came in at $2.68 billion and rose 17.9% year over year.
• Insider selling has been notable, with director Joseph Gebbia selling 58,000 shares and CFO Elinor Mertz selling 3,750 shares; analysts still rate the stock a Moderate Buy with a $157.67 consensus price target.

Securian Asset Management Inc. lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 44.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,564 shares of the company's stock after selling 9,157 shares during the period. Securian Asset Management Inc.'s holdings in Airbnb were worth $1,569,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Airbnb during the 3rd quarter valued at about $25,000. ORG Partners LLC raised its stake in shares of Airbnb by 97.0% during the 4th quarter. ORG Partners LLC now owns 195 shares of the company's stock valued at $26,000 after buying an additional 96 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company's stock valued at $27,000 after buying an additional 175 shares during the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Airbnb during the 3rd quarter valued at about $27,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of Airbnb during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

NASDAQ:ABNB opened at $137.05 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $147.25. The stock has a market capitalization of $83.42 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20. The stock's 50-day moving average price is $133.60 and its 200-day moving average price is $129.46.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data 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). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company's quarterly revenue was up 17.9% on a year-over-year basis. As a group, equities analysts expect that Airbnb, Inc. will post 4.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $140.37, for a total value of $8,141,460.00. Following the sale, the director directly owned 54,015 shares in the company, valued at approximately $7,582,085.55. The trade was a 51.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Elinor Mertz sold 3,750 shares of Airbnb stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $143.00, for a total value of $536,250.00. Following the completion of the sale, the chief financial officer owned 463,415 shares in the company, valued at approximately $66,268,345. The trade was a 0.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 399,075 shares of company stock worth $53,332,095. Insiders own 27.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ABNB shares. Mizuho raised their target price on Airbnb from $156.00 to $175.00 and gave the company an "outperform" rating in a research report on Tuesday, March 3rd. Rodman & Renshaw started coverage on Airbnb in a research report on Monday, May 4th. They set a "buy" rating on the stock. JPMorgan Chase & Co. raised their target price on Airbnb from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Friday. Benchmark raised their target price on Airbnb from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday. Finally, Evercore restated an "outperform" rating on shares of Airbnb in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Airbnb has a consensus rating of "Moderate Buy" and a consensus price target of $157.67.

About Airbnb

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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