Swiss National Bank Sells 22,100 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• The Swiss National Bank reduced its stake in Airbnb by 1.8%, holding approximately 1,220,900 shares worth $145.85 million at the end of the reporting period.
• Analysts have varied opinions on Airbnb, with price targets ranging from $100 to $130, and a consensus rating of "Hold" from several research firms.
• Insider trading activity includes a significant sale by Director Joseph Gebbia of 236,000 shares, representing a 50% decrease in his position.

Swiss National Bank lowered its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,220,900 shares of the company's stock after selling 22,100 shares during the quarter. Swiss National Bank owned 0.19% of Airbnb worth $145,849,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Airbnb by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock valued at $4,475,286,000 after acquiring an additional 604,120 shares during the period. Northern Trust Corp lifted its position in Airbnb by 8.4% in the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock valued at $564,647,000 after acquiring an additional 331,607 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after acquiring an additional 1,389,251 shares during the last quarter. Two Sigma Advisers LP increased its position in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after acquiring an additional 2,577,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Airbnb by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,894,569 shares of the company's stock worth $345,785,000 after purchasing an additional 103,925 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the sale, the chief technology officer directly owned 209,777 shares in the company, valued at approximately $29,240,816.03. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, August 4th. The shares were sold at an average price of $129.71, for a total transaction of $30,611,560.00. Following the completion of the sale, the director directly owned 236,015 shares of the company's stock, valued at approximately $30,613,505.65. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,671,023 shares of company stock valued at $223,195,427. Insiders own 27.83% of the company's stock.

Airbnb Price Performance

ABNB stock traded down $2.72 during midday trading on Monday, reaching $118.30. 6,573,599 shares of the company were exchanged, compared to its average volume of 4,928,939. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The firm has a market capitalization of $74.10 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13. The business has a 50-day moving average price of $134.96 and a two-hundred day moving average price of $130.95.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS. As a group, analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ABNB shares. JMP Securities restated a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Canaccord Genuity Group dropped their target price on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a report on Monday, April 28th. BNP Paribas raised Airbnb to a "hold" rating in a report on Wednesday, July 16th. Truist Financial reaffirmed a "sell" rating and set a $106.00 price objective (down previously from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Finally, Cantor Fitzgerald restated an "underweight" rating and issued a $100.00 price target on shares of Airbnb in a report on Wednesday, May 14th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Airbnb presently has an average rating of "Hold" and an average price target of $142.72.

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.