Investment Management Corp of Ontario Buys 6,762 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Investment Management Corp of Ontario increased its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 46.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,449 shares of the company's stock after acquiring an additional 6,762 shares during the quarter. Investment Management Corp of Ontario's holdings in Airbnb were worth $2,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ABNB. Geode Capital Management LLC lifted its holdings in shares of Airbnb by 0.8% during 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 in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Airbnb by 8.4% during the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock valued at $564,647,000 after purchasing an additional 331,607 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Airbnb by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock valued at $548,683,000 after purchasing an additional 558,856 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Airbnb during the fourth quarter valued at $433,374,000. 80.76% of the stock is currently owned by institutional investors.

Airbnb Price Performance

Shares of NASDAQ:ABNB traded down $0.66 during trading on Thursday, hitting $136.79. 3,463,213 shares of the company's stock were exchanged, compared to its average volume of 4,873,169. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The business's 50-day simple moving average is $121.48 and its 200 day simple moving average is $131.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market cap of $86.25 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $141.93, for a total value of $30,413,470.05. Following the sale, the director now owns 428,575 shares of the company's stock, valued at $60,827,649.75. The trade was a 33.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 230,772 shares of Airbnb stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $161.16, for a total value of $37,191,215.52. Following the completion of the sale, the chief executive officer now directly owns 12,000,913 shares in the company, valued at approximately $1,934,067,139.08. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,983,669 shares of company stock worth $266,947,699 over the last 90 days. Corporate insiders own 27.83% of the company's stock.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of research analyst reports. Susquehanna lowered their price target on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a report on Monday, May 5th. The Goldman Sachs Group raised Airbnb from a "sell" rating to a "neutral" rating and upped their price target for the company from $110.00 to $153.00 in a report on Friday, February 14th. Hsbc Global Res upgraded Airbnb from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Argus upgraded Airbnb from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Finally, Citigroup reduced their price objective on Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $141.43.

About Airbnb

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.