Airbnb, Inc. $ABNB Stake Lessened by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,692 shares of the company’s stock after selling 9,362 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Airbnb were worth $17,388,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Merit Financial Group LLC lifted its stake in Airbnb by 72.1% during the fourth quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock worth $4,478,000 after purchasing an additional 13,818 shares during the last quarter. North Dakota State Investment Board acquired a new stake in shares of Airbnb during the fourth quarter worth $2,785,000. North Star Asset Management Inc. lifted its position in shares of Airbnb by 13.4% in the 4th quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock worth $10,663,000 after buying an additional 9,294 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Airbnb by 18.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,291 shares of the company’s stock worth $30,305,000 after buying an additional 34,573 shares during the last quarter. Finally, Danske Bank A S boosted its holdings in shares of Airbnb by 11.0% in the 4th quarter. Danske Bank A S now owns 235,557 shares of the company’s stock valued at $31,970,000 after buying an additional 23,422 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Up 4.1%

Airbnb stock opened at $146.86 on Tuesday. The company has a 50-day simple moving average of $140.10 and a 200-day simple moving average of $134.68. The firm has a market capitalization of $88.51 billion, a P/E ratio of 36.17, a P/E/G ratio of 1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. Airbnb, Inc. has a one year low of $110.81 and a one year high of $150.88.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. As a group, equities analysts expect that Airbnb, Inc. will post 4.93 earnings per share for the current year.

Insider Activity

In related news, Director Joseph Gebbia sold 2,460 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $150.00, for a total value of $369,000.00. Following the completion of the transaction, the director directly owned 2,595,119 shares of the company’s stock, valued at $389,267,850. This represents a 0.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total value of $555,037.50. Following the completion of the transaction, the chief financial officer directly owned 445,290 shares of the company’s stock, valued at $65,907,372.90. This trade represents a 0.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,231,864 shares of company stock worth $308,474,278 over the last ninety days. 27.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ABNB shares. Cantor Fitzgerald raised shares of Airbnb from a “neutral” rating to an “overweight” rating in a research report on Monday, May 4th. Benchmark raised their target price on shares of Airbnb from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Jefferies Financial Group lifted their target price on Airbnb from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Needham & Company LLC initiated coverage on Airbnb in a report on Monday, May 4th. They set a “buy” rating for the company. Finally, Susquehanna increased their price target on Airbnb from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $159.65.

About Airbnb

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.