LGT Group Foundation Has $41.76 Million Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

LGT Group Foundation cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 3.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 304,832 shares of the company’s stock after selling 11,713 shares during the quarter. Airbnb makes up about 0.9% of LGT Group Foundation’s holdings, making the stock its 29th largest holding. LGT Group Foundation’s holdings in Airbnb were worth $41,762,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Compagnie Lombard Odier SCmA grew its position in shares of Airbnb by 34.7% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 31,612 shares of the company’s stock valued at $4,304,000 after purchasing an additional 8,140 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Airbnb by 4.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock valued at $1,119,000 after purchasing an additional 333 shares during the period. Nordea Investment Management AB grew its position in shares of Airbnb by 27.5% in the 4th quarter. Nordea Investment Management AB now owns 1,268,390 shares of the company’s stock valued at $172,742,000 after purchasing an additional 273,191 shares during the period. Cerity Partners LLC grew its position in shares of Airbnb by 14.4% in the 4th quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock valued at $13,011,000 after purchasing an additional 12,008 shares during the period. Finally, Stevens Capital Management LP acquired a new position in Airbnb during the 4th quarter worth approximately $726,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on ABNB. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research report on Thursday, April 11th. B. Riley Financial began coverage on Airbnb in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target for the company. Mizuho raised Airbnb from a “neutral” rating to a “buy” rating and upped their price target for the stock from $150.00 to $200.00 in a research report on Wednesday, April 24th. Barclays upped their price target on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday, January 29th. Finally, UBS Group reduced their price target on Airbnb from $148.00 to $143.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $149.19.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded down $1.29 on Thursday, reaching $154.87. 1,954,985 shares of the company’s stock were exchanged, compared to its average volume of 4,426,152. The company has a fifty day moving average of $160.84 and a 200-day moving average of $144.10. Airbnb, Inc. has a twelve month low of $103.55 and a twelve month high of $170.10. The company has a market capitalization of $100.21 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 2.11 and a beta of 1.24. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. On average, research analysts predict that Airbnb, Inc. will post 4.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Dave Stephenson sold 7,838 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $145.98, for a total transaction of $1,144,191.24. Following the sale, the chief financial officer now owns 85,802 shares in the company, valued at approximately $12,525,375.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Dave Stephenson sold 7,838 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $145.98, for a total transaction of $1,144,191.24. Following the sale, the chief financial officer now owns 85,802 shares in the company, valued at approximately $12,525,375.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elinor Mertz sold 9,196 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $156.76, for a total transaction of $1,441,564.96. Following the sale, the chief financial officer now owns 535,530 shares in the company, valued at approximately $83,949,682.80. The disclosure for this sale can be found here. Insiders have sold a total of 396,274 shares of company stock worth $63,616,059 in the last quarter. Corporate insiders own 27.83% of the company’s stock.

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.