Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 14.6% in the 4th quarter, HoldingsChannel reports. The firm owned 1,044,145 shares of the company’s stock after selling 178,453 shares during the quarter. Alliancebernstein L.P.’s holdings in Airbnb were worth $137,211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABNB. Norges Bank acquired a new position in Airbnb in the 4th quarter valued at about $433,374,000. Clearbridge Investments LLC grew its holdings in shares of Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after buying an additional 2,590,475 shares in the last quarter. Meritage Group LP acquired a new position in shares of Airbnb in the third quarter valued at approximately $160,985,000. Principal Financial Group Inc. lifted its stake in shares of Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after buying an additional 1,185,892 shares during the period. Finally, Temasek Holdings Private Ltd boosted its position in Airbnb by 91.3% during the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock worth $294,726,000 after acquiring an additional 1,109,076 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ABNB shares. Bank of America boosted their price target on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Evercore ISI increased their target price on Airbnb to $155.00 and gave the stock a “hold” rating in a research report on Wednesday, January 15th. Hsbc Global Res raised Airbnb from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Baird R W raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Gordon Haskett raised shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 target price on the stock in a research report on Friday, February 14th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus target price of $147.36.

Insider Activity

In other Airbnb news, insider Nathan Blecharczyk sold 183,078 shares of Airbnb stock in a transaction on Friday, February 14th. The shares were sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the transaction, the insider now owns 164,850 shares of the company’s stock, valued at $26,046,300. The trade was a 52.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 20,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $131.87, for a total transaction of $2,637,400.00. Following the sale, the chief technology officer now directly owns 185,414 shares in the company, valued at $24,450,544.18. This trade represents a 9.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,270,894 shares of company stock worth $317,578,168. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

Shares of ABNB opened at $121.18 on Wednesday. The firm has a market cap of $76.41 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 3.52 and a beta of 1.10. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $134.74 and its two-hundred day moving average is $133.87. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $166.74.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal 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.