Airbnb, Inc. $ABNB Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lowered its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 6.2% in the third quarter, HoldingsChannel.com reports. The fund owned 134,151 shares of the company’s stock after selling 8,871 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Airbnb were worth $16,321,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners purchased a new position in Airbnb during the second quarter worth $28,000. Whipplewood Advisors LLC raised its holdings in shares of Airbnb by 235.3% in the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after acquiring an additional 160 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Airbnb in the third quarter worth $32,000. Finally, NewSquare Capital LLC lifted its position in shares of Airbnb by 86.4% in the second quarter. NewSquare Capital LLC now owns 287 shares of the company’s stock valued at $38,000 after acquiring an additional 133 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of recent research reports. BNP Paribas Exane initiated coverage on Airbnb in a research report on Monday, November 24th. They set a “hold” rating for the company. DA Davidson reaffirmed a “buy” rating and set a $155.00 price target on shares of Airbnb in a research note on Friday, December 5th. Wedbush boosted their price objective on shares of Airbnb from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, December 19th. KeyCorp initiated coverage on shares of Airbnb in a research note on Thursday, October 23rd. They set a “sector weight” rating on the stock. Finally, Jefferies Financial Group raised their target price on shares of Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus target price of $147.84.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 2,565 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $134.79, for a total transaction of $345,736.35. Following the completion of the sale, the chief technology officer owned 165,086 shares of the company’s stock, valued at approximately $22,251,941.94. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $138.45, for a total value of $8,030,100.00. Following the sale, the director owned 518,015 shares of the company’s stock, valued at $71,719,176.75. This represents a 10.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,152,372 shares of company stock valued at $141,414,638 over the last quarter. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Price Performance

NASDAQ ABNB opened at $132.15 on Monday. The company has a 50-day moving average of $128.86 and a 200-day moving average of $127.52. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The company has a market cap of $81.34 billion, a P/E ratio of 31.39, a P/E/G ratio of 2.05 and a beta of 1.09.

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

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.