Swiss National Bank Sells 74,800 Shares of Airbnb, Inc. $ABNB

Key Points

• The Swiss National Bank trimmed its Airbnb stake by 5.7%, selling 74,800 shares in Q3 and now holds 1,244,100 shares (about 0.20%) valued at roughly $151.06 million.
• Insiders have been net sellers: director Joseph Gebbia sold 58,000 shares and CFO Elinor Mertz sold 3,750, with insiders offloading 449,488 shares (~$58.7 million) over the past three months, though insiders still own 27.83% of the company.
• Airbnb missed EPS last quarter ($0.56 vs. $0.66 expected) while beating revenue ($2.78B), and analysts’ consensus is a "Hold" with an average price target of $149.42 and a market cap around $81.6 billion.

Swiss National Bank reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 5.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,244,100 shares of the company's stock after selling 74,800 shares during the quarter. Swiss National Bank owned approximately 0.20% of Airbnb worth $151,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH increased its holdings in Airbnb by 3.5% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 962,551 shares of the company's stock valued at $116,873,000 after purchasing an additional 32,501 shares during the period. Charles Schwab Investment Management Inc. raised its position in Airbnb by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,925,689 shares of the company's stock valued at $387,186,000 after purchasing an additional 31,120 shares during the last quarter. Sumitomo Life Insurance Co. lifted its holdings in Airbnb by 15.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 66,071 shares of the company's stock worth $8,022,000 after buying an additional 8,636 shares during the period. Cerity Partners LLC lifted its holdings in Airbnb by 18.1% in the 3rd quarter. Cerity Partners LLC now owns 364,824 shares of the company's stock worth $44,297,000 after buying an additional 55,838 shares during the period. Finally, National Pension Service grew its position in shares of Airbnb by 1.1% in the 3rd quarter. National Pension Service now owns 1,096,411 shares of the company's stock worth $133,126,000 after buying an additional 12,453 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Trading Up 0.6%

Shares of Airbnb stock opened at $134.03 on Tuesday. The firm has a market capitalization of $81.59 billion, a P/E ratio of 33.18, a P/E/G ratio of 1.50 and a beta of 1.12. The business has a fifty day simple moving average of $130.50 and a two-hundred day simple moving average of $126.63. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $143.88.

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

Analysts Set New Price Targets

ABNB has been the topic of several research analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Airbnb in a research note on Wednesday, January 14th. Argus upgraded shares of Airbnb to a "strong-buy" rating in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft raised shares of Airbnb from a "hold" rating to a "buy" rating and set a $154.00 price objective on the stock in a research report on Friday, February 13th. DA Davidson decreased their price objective on shares of Airbnb from $155.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, February 17th. Finally, BNP Paribas Exane initiated coverage on shares of Airbnb in a research report on Monday, November 24th. They issued a "hold" rating for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, sixteen have assigned a Hold rating and two have given 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 $149.42.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $121.97, for a total transaction of $7,074,260.00. Following the completion of the transaction, the director owned 344,015 shares of the company's stock, valued at approximately $41,959,509.55. This trade represents a 14.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 3,750 shares of Airbnb stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $130.00, for a total transaction of $487,500.00. Following the transaction, the chief financial officer owned 402,417 shares of the company's stock, valued at $52,314,210. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 449,488 shares of company stock worth $58,706,854. Insiders own 27.83% of the company's stock.

Airbnb Profile

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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