Airbnb, Inc. $ABNB Shares Purchased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. boosted its position in Airbnb, Inc. (NASDAQ:ABNB) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,071 shares of the company’s stock after purchasing an additional 8,636 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Airbnb were worth $8,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH lifted its stake in Airbnb by 3.5% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 962,551 shares of the company’s stock worth $116,873,000 after purchasing an additional 32,501 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Airbnb by 1.1% in the second 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. Cerity Partners LLC lifted its position in Airbnb by 18.1% during the third 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 in the last quarter. National Pension Service lifted its position in Airbnb by 1.1% during the third 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 in the last quarter. Finally, Abacus FCF Advisors LLC boosted its stake in Airbnb by 7.8% during the third quarter. Abacus FCF Advisors LLC now owns 135,577 shares of the company’s stock worth $16,462,000 after buying an additional 9,864 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABNB. Truist Financial raised their target price on Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, January 21st. BMO Capital Markets lifted their target price on shares of Airbnb from $130.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. Citizens Jmp raised shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a research note on Wednesday, February 4th. Finally, Sanford C. Bernstein cut their price target on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus price target of $148.69.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 141,063 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $121.96, for a total value of $17,204,043.48. Following the sale, the insider owned 11,520 shares of the company’s stock, valued at $1,404,979.20. This trade represents a 92.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Chesky sold 51,230 shares of Airbnb stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the completion of the transaction, the chief executive officer owned 45,854 shares of the company’s stock, valued at $6,014,210.64. This represents a 52.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 857,682 shares of company stock worth $108,169,163. Company insiders own 27.91% of the company’s stock.

Airbnb Stock Performance

NASDAQ ABNB opened at $132.02 on Thursday. The firm has a market cap of $80.36 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 1.70 and a beta of 1.15. The firm has a 50 day simple moving average of $130.75 and a 200-day simple moving average of $126.02. Airbnb, Inc. has a one year low of $99.88 and a one year high of $145.69.

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

Airbnb Company 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.