Airbnb, Inc. (NASDAQ:ABNB) Position Lessened by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in Airbnb, Inc. by 12.3% during the first quarter, now holding 122,680 shares valued at approximately $14.65 million.
• Several institutional investors increased their holdings in Airbnb, with Natixis Advisors LLC boosting its stake by 27.4%, now owning 171,776 shares valued at $20.52 million.
• Analysts have mixed views on Airbnb, with price targets ranging from $100 to $180, and an overall average target price of $142.10, indicating a generally cautious outlook.

US Bancorp DE lowered its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 122,680 shares of the company's stock after selling 17,272 shares during the quarter. US Bancorp DE's holdings in Airbnb were worth $14,655,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in Airbnb by 2,297.4% in the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after buying an additional 2,685,026 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after acquiring an additional 2,577,000 shares during the last quarter. Principal Financial Group Inc. raised its position in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after purchasing an additional 1,389,251 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Airbnb by 119.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock valued at $179,991,000 after acquiring an additional 820,887 shares during the period. Finally, AQR Capital Management LLC grew its stake in Airbnb by 52.1% during the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company's stock worth $310,896,000 after buying an additional 809,964 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ABNB shares. UBS Group lifted their price target on Airbnb from $137.00 to $156.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Morgan Stanley upped their target price on shares of Airbnb from $125.00 to $130.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Barclays upped their target price on shares of Airbnb from $103.00 to $104.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Finally, Benchmark decreased their target price on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $142.10.

Airbnb Stock Up 0.4%

Shares of NASDAQ ABNB traded up $0.54 during trading on Wednesday, reaching $130.50. The company had a trading volume of 10,951,780 shares, compared to its average volume of 3,822,078. The business's 50-day moving average is $135.23 and its 200 day moving average is $131.17. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The stock has a market cap of $81.75 billion, a PE ratio of 32.95, a P/E/G ratio of 2.42 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced 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 30.91% and a net margin of 22.60%. During the same period in the prior year, the firm posted $0.86 EPS. The firm's quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares in the company, valued at approximately $62,680,505.46. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer owned 42,619 shares in the company, valued at $6,051,898. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,671,023 shares of company stock worth $223,195,427 over the last quarter. 27.91% of the stock is owned by corporate insiders.

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.