Sumitomo Mitsui Trust Group Inc. Grows Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 12.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,179,672 shares of the company's stock after purchasing an additional 131,659 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of Airbnb worth $140,924,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Airbnb by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock valued at $1,244,514,000 after purchasing an additional 72,991 shares during the period. Clearbridge Investments LLC grew its position in Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after buying an additional 2,590,475 shares during the last quarter. Northern Trust Corp increased its stake in Airbnb by 8.4% in the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock valued at $564,647,000 after buying an additional 331,607 shares during the period. Renaissance Technologies LLC raised its position in Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after buying an additional 558,856 shares during the last quarter. Finally, Norges Bank purchased a new position in Airbnb during the 4th quarter worth $433,374,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABNB. JPMorgan Chase & Co. lowered their target price on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on Airbnb from $100.00 to $104.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. Susquehanna cut 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. Evercore ISI decreased their price target on Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Finally, B. Riley dropped their price objective on Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $141.23.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $137.13, for a total transaction of $82,278.00. Following the completion of the sale, the chief technology officer now owns 213,377 shares of the company's stock, valued at approximately $29,260,388.01. The trade was a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 38,459 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $120.44, for a total value of $4,632,001.96. Following the sale, the chief executive officer now owns 11,731,685 shares of the company's stock, valued at $1,412,964,141.40. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,646,087 shares of company stock worth $206,326,144 in the last three months. Company insiders own 27.91% of the company's stock.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $134.52 on Friday. The firm has a market cap of $84.26 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 2.52 and a beta of 1.14. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm's 50 day moving average price is $130.00 and its 200 day moving average price is $130.39.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business earned $0.41 EPS. Airbnb's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

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.