Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in Airbnb, Inc. $ABNB

Key Points

• Sumitomo Mitsui Trust Group trimmed its Airbnb stake by 6.1% in Q4, selling 117,881 shares and finishing with 1,799,913 shares valued at about $244.3 million (roughly 0.29% of the company).
• Insiders have been net sellers recently — including Nathan Blecharczyk and Joseph Gebbia — with 363,510 shares sold (~$46.45M) in the last three months, though insiders still own 27.83% of Airbnb.
• Analysts are mixed: the consensus rating is a Hold with a $149.40 average price target, and Airbnb recently missed EPS ($0.56 vs. $0.66) while beating revenue expectations at $2.78 billion.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,799,913 shares of the company's stock after selling 117,881 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.29% of Airbnb worth $244,284,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ABNB. Caxton Associates LLP purchased a new stake in shares of Airbnb during the first quarter worth approximately $258,000. Intech Investment Management LLC increased its stake in shares of Airbnb by 55.8% during the first quarter. Intech Investment Management LLC now owns 12,161 shares of the company's stock worth $1,453,000 after buying an additional 4,353 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Airbnb by 18.8% during the second quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company's stock worth $776,000 after buying an additional 927 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Airbnb during the second quarter worth approximately $411,000. Finally, NewEdge Advisors LLC increased its stake in shares of Airbnb by 9.8% during the second quarter. NewEdge Advisors LLC now owns 54,054 shares of the company's stock worth $7,153,000 after buying an additional 4,811 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Benchmark cut their target price on shares of Airbnb from $155.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Sanford C. Bernstein cut their target price on shares of Airbnb from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 6th. Weiss Ratings restated a "hold (c)" rating on shares of Airbnb in a research note on Wednesday, January 21st. TD Cowen upped their target price on shares of Airbnb from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. Finally, B. Riley Financial upgraded shares of Airbnb from a "neutral" rating to a "buy" rating and upped their target price for the stock from $140.00 to $170.00 in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $149.40.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 4,260 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $125.29, for a total value of $533,735.40. Following the completion of the sale, the insider directly owned 49,250 shares of the company's stock, valued at approximately $6,170,532.50. This represents a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $133.28, for a total value of $7,730,240.00. Following the completion of the sale, the director directly owned 460,015 shares of the company's stock, valued at $61,310,799.20. The trade was a 11.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 363,510 shares of company stock worth $46,447,668 over the last three months. Insiders own 27.83% of the company's stock.

Airbnb Price Performance

Shares of Airbnb stock opened at $128.96 on Monday. The firm has a market capitalization of $78.50 billion, a P/E ratio of 31.92, a P/E/G ratio of 1.58 and a beta of 1.15. Airbnb, Inc. has a 52 week low of $109.79 and a 52 week high of $143.88. The firm's 50 day moving average is $127.72 and its two-hundred day moving average is $127.11.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.10). The company had revenue of $2.78 billion during the quarter, compared to analysts' expectations of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. As a group, research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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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