Norden Group LLC Sells 791 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Norden Group LLC reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,529 shares of the company’s stock after selling 791 shares during the quarter. Norden Group LLC’s holdings in Airbnb were worth $3,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABNB. Pacer Advisors Inc. boosted its stake in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares during the last quarter. Meritage Group LP bought a new position in Airbnb in the third quarter valued at approximately $160,985,000. Principal Financial Group Inc. boosted its stake in Airbnb by 174.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after acquiring an additional 1,185,892 shares during the last quarter. Edgewood Management LLC boosted its stake in Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after acquiring an additional 1,143,464 shares during the last quarter. Finally, Temasek Holdings Private Ltd boosted its stake in Airbnb by 91.3% in the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock valued at $294,726,000 after acquiring an additional 1,109,076 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ABNB shares. Truist Financial reduced their price objective on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. Citigroup increased their target price on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group increased their target price on shares of Airbnb from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Robert W. Baird upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $140.00 to $175.00 in a report on Friday, February 14th. Finally, Benchmark increased their target price on shares of Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Airbnb presently has an average rating of “Hold” and an average price target of $146.48.

Airbnb Stock Performance

Shares of ABNB opened at $138.87 on Friday. The firm has a 50-day moving average of $136.52 and a 200-day moving average of $131.91. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company has a market cap of $87.56 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 3.52 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69.

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

Insider Activity

In related news, CAO David C. Bernstein sold 1,000 shares of Airbnb stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $137.00, for a total transaction of $137,000.00. Following the completion of the sale, the chief accounting officer now owns 40,581 shares of the company’s stock, valued at approximately $5,559,597. The trade was a 2.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 26,154 shares of Airbnb stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $145.00, for a total transaction of $3,792,330.00. Following the sale, the insider now directly owns 159,337 shares of the company’s stock, valued at $23,103,865. The trade was a 14.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,117,468 shares of company stock valued at $299,565,586 in the last quarter. Company insiders own 27.83% of the company’s stock.

Airbnb Company Profile

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.