PKO Investment Management Joint Stock Co Invests $2.06 Million in Airbnb, Inc. $ABNB

PKO Investment Management Joint Stock Co purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,000 shares of the company’s stock, valued at approximately $2,064,000.

A number of other hedge funds also recently bought and sold shares of ABNB. Nordea Investment Management AB grew its position in Airbnb by 1.6% during the 3rd quarter. Nordea Investment Management AB now owns 326,322 shares of the company’s stock valued at $39,593,000 after purchasing an additional 5,041 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Airbnb by 2.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,771 shares of the company’s stock worth $1,793,000 after buying an additional 295 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Airbnb by 4.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,917,794 shares of the company’s stock valued at $232,859,000 after acquiring an additional 88,063 shares in the last quarter. MGO One Seven LLC raised its stake in Airbnb by 28.3% during the 3rd quarter. MGO One Seven LLC now owns 11,564 shares of the company’s stock valued at $1,404,000 after buying an additional 2,548 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Airbnb by 13,607.0% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 13,707 shares of the company’s stock worth $1,746,000 after purchasing an additional 13,607 shares during the period. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $138.51 on Tuesday. The stock has a market capitalization of $85.26 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.16 and a beta of 1.09. The company has a fifty day moving average of $126.80 and a 200 day moving average of $127.69. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 EPS. On average, equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $136.70, for a total value of $7,928,600.00. Following the transaction, the director directly owned 576,015 shares in the company, valued at approximately $78,741,250.50. This represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 36,370 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $123.24, for a total transaction of $4,482,238.80. Following the completion of the transaction, the insider directly owned 11,520 shares in the company, valued at $1,419,724.80. This represents a 75.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,343,756 shares of company stock valued at $165,409,819. Insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the topic of several recent research reports. Truist Financial raised their price objective on Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a research note on Thursday, December 4th. DA Davidson reaffirmed a “buy” rating and set a $155.00 price target on shares of Airbnb in a report on Friday, December 5th. Sanford C. Bernstein reduced their price objective on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Wells Fargo & Company set a $128.00 target price on shares of Airbnb and gave the stock an “equal weight” rating in a report on Friday. Finally, Jefferies Financial Group raised their price target on Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, December 5th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty-one have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $148.12.

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.