PGGM Investments Acquires Shares of 4,720 Airbnb, Inc. (NASDAQ:ABNB)

PGGM Investments bought a new position in Airbnb, Inc. (NASDAQ:ABNB) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,720 shares of the company’s stock, valued at approximately $779,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Airbnb by 4.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock valued at $1,119,000 after purchasing an additional 333 shares in the last quarter. Fifth Third Bancorp increased its position in Airbnb by 83.3% during the 4th quarter. Fifth Third Bancorp now owns 5,595 shares of the company’s stock valued at $762,000 after buying an additional 2,542 shares in the last quarter. DAVENPORT & Co LLC increased its position in Airbnb by 18.4% during the 4th quarter. DAVENPORT & Co LLC now owns 2,324 shares of the company’s stock valued at $316,000 after buying an additional 361 shares in the last quarter. UMB Bank n.a. raised its stake in Airbnb by 50.7% during the fourth quarter. UMB Bank n.a. now owns 324 shares of the company’s stock valued at $44,000 after buying an additional 109 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Airbnb by 36.2% in the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

NASDAQ ABNB opened at $128.23 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 12 month low of $113.24 and a 12 month high of $170.10. The stock has a market cap of $82.59 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.67 and a beta of 1.18. The company’s 50 day moving average is $147.05 and its two-hundred day moving average is $152.18.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. Airbnb’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS. As a group, research analysts anticipate that Airbnb, Inc. will post 4.66 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Aristotle N. Balogh 600 shares of Airbnb stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through this link. In other news, insider Aristotle N. Balogh 600 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 80,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the transaction, the chief technology officer now directly owns 207,574 shares of the company’s stock, valued at approximately $30,951,359.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 735,492 shares of company stock worth $109,423,324. 27.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ABNB shares. Mizuho raised Airbnb from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $200.00 in a research report on Wednesday, April 24th. TD Cowen dropped their target price on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Truist Financial increased their price target on shares of Airbnb from $131.00 to $134.00 and gave the company a “hold” rating in a report on Thursday, May 30th. BMO Capital Markets boosted their price objective on shares of Airbnb from $135.00 to $151.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. Finally, Piper Sandler reiterated a “neutral” rating and set a $155.00 target price (up from $145.00) on shares of Airbnb in a research note on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $152.24.

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.