Vestcor Inc Purchases 5,120 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Vestcor Inc grew its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 59.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,684 shares of the company’s stock after buying an additional 5,120 shares during the quarter. Vestcor Inc’s holdings in Airbnb were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of Airbnb in the fourth quarter worth $25,000. Berbice Capital Management LLC bought a new position in shares of Airbnb in the fourth quarter worth $26,000. Ashton Thomas Securities LLC bought a new position in shares of Airbnb in the third quarter worth $30,000. Whipplewood Advisors LLC bought a new position in shares of Airbnb in the fourth quarter worth $44,000. Finally, Cromwell Holdings LLC increased its position in shares of Airbnb by 82.5% in the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after purchasing an additional 170 shares during the period. Institutional investors own 80.76% of the company’s stock.

Insider Activity

In other news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $131.88, for a total transaction of $28,259,905.80. Following the completion of the sale, the director now owns 1,285,715 shares in the company, valued at $169,560,094.20. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian Chesky sold 230,772 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $161.16, for a total value of $37,191,215.52. Following the sale, the chief executive officer now owns 12,000,913 shares of the company’s stock, valued at approximately $1,934,067,139.08. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,269,494 shares of company stock worth $318,203,453 over the last quarter. 27.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABNB. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Friday, February 14th. DA Davidson raised their price objective on Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Susquehanna raised their price objective on Airbnb from $160.00 to $200.00 and gave the company a “positive” rating in a research note on Tuesday, February 18th. Bank of America raised their price objective on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Finally, Benchmark raised their price objective on Airbnb from $150.00 to $178.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $148.15.

Airbnb Trading Up 2.9 %

Shares of ABNB stock opened at $122.86 on Friday. The company has a market cap of $77.47 billion, a P/E ratio of 29.75, a PEG ratio of 3.52 and a beta of 1.10. The stock has a 50 day simple moving average of $136.23 and a two-hundred day simple moving average of $132.85. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.