ICICI Prudential Asset Management Co Ltd Buys 26,173 Shares of Airbnb, Inc. $ABNB

ICICI Prudential Asset Management Co Ltd grew its stake in Airbnb, Inc. (NASDAQ:ABNB) by 483.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,582 shares of the company’s stock after acquiring an additional 26,173 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Airbnb were worth $3,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Airbnb by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock worth $4,649,814,000 after buying an additional 649,323 shares in the last quarter. Harris Associates L P raised its position in shares of Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after acquiring an additional 4,292,383 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Airbnb by 1.5% during the second quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock valued at $1,314,057,000 after acquiring an additional 145,788 shares during the period. Norges Bank acquired a new position in shares of Airbnb during the second quarter valued at $483,644,000. Finally, Akre Capital Management LLC boosted its holdings in Airbnb by 19.0% in the second quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock valued at $459,649,000 after acquiring an additional 555,510 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABNB. BTIG Research restated a “neutral” rating on shares of Airbnb in a research report on Friday, November 7th. TD Cowen boosted their price target on shares of Airbnb from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. BMO Capital Markets raised their price objective on shares of Airbnb from $130.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, February 13th. DA Davidson dropped their target price on shares of Airbnb from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Argus raised Airbnb to a “strong-buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus price target of $148.69.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 51,230 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 141,063 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $121.96, for a total transaction of $17,204,043.48. Following the sale, the insider owned 11,520 shares in the company, valued at approximately $1,404,979.20. The trade was a 92.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,027,422 shares of company stock worth $127,060,208. 27.91% of the stock is owned by company insiders.

Airbnb Stock Up 1.2%

ABNB opened at $125.81 on Friday. The stock has a market cap of $77.44 billion, a P/E ratio of 31.14, a P/E/G ratio of 1.69 and a beta of 1.15. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $157.75. The company has a fifty day simple moving average of $131.10 and a 200 day simple moving average of $126.01.

Airbnb (NASDAQ:ABNB) last posted 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 net margin of 20.51% and a return on equity of 30.88%. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share 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.