Swedbank AB Sells 8,827 Shares of Airbnb, Inc. $ABNB

Key Points

• Swedbank AB has decreased its stake in Airbnb, Inc. by 1.0%, selling 8,827 shares, which leaves it owning approximately 0.14% of the company worth $102,708,000.
• Various institutional investors modified their positions, with Acadian Asset Management LLC significantly increasing its holdings in Airbnb by 52.9% during the first quarter.
• Analyst ratings vary, with Airbnb receiving an average rating of "Hold" and a price target of $141.68, while some firms, like Truist Financial and Morgan Stanley, lowered their price objectives.

Swedbank AB lessened its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 859,765 shares of the company's stock after selling 8,827 shares during the period. Swedbank AB owned approximately 0.14% of Airbnb worth $102,708,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Sit Investment Associates Inc. boosted its stake in Airbnb by 42.8% during the 1st quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock valued at $2,015,000 after purchasing an additional 5,060 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in Airbnb by 74.8% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock valued at $2,451,000 after purchasing an additional 8,780 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Airbnb by 52.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company's stock valued at $293,590,000 after purchasing an additional 850,719 shares during the last quarter. Ritholtz Wealth Management boosted its stake in Airbnb by 10.0% during the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock valued at $636,000 after purchasing an additional 484 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its stake in Airbnb by 53.1% during the 1st quarter. Plato Investment Management Ltd now owns 18,974 shares of the company's stock valued at $2,291,000 after purchasing an additional 6,579 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Stock Down 1.8%

Airbnb stock traded down $2.18 during trading on Monday, hitting $120.37. The stock had a trading volume of 7,056,575 shares, compared to its average volume of 4,155,001. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The stock's 50 day moving average is $130.13 and its two-hundred day moving average is $128.29. The stock has a market cap of $74.80 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating 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 business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. Airbnb's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the sale, the director directly owned 944,015 shares in the company, valued at $122,212,181.90. The trade was a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,438,326 shares of company stock worth $188,798,155 in the last ninety days. Company insiders own 27.83% of the company's stock.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of analyst reports. BNP Paribas upgraded Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Citizens Jmp upgraded Airbnb to a "hold" rating in a research note on Monday, August 11th. Wedbush cut their target price on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, Phillip Securities upgraded Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $141.68.

Airbnb Company 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.