National Bank of Canada FI Trims Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

National Bank of Canada FI decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 34.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 235,017 shares of the company’s stock after selling 124,783 shares during the quarter. National Bank of Canada FI’s holdings in Airbnb were worth $30,884,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in Airbnb by 1.6% during the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after buying an additional 146,761 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after acquiring an additional 2,590,475 shares during the period. Norges Bank purchased a new stake in Airbnb in the 4th quarter valued at $433,374,000. Charles Schwab Investment Management Inc. boosted its stake in Airbnb by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,790,644 shares of the company’s stock worth $366,719,000 after purchasing an additional 84,348 shares during the period. Finally, Temasek Holdings Private Ltd grew its position in Airbnb by 91.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock worth $294,726,000 after purchasing an additional 1,109,076 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Price Performance

Airbnb stock opened at $122.80 on Thursday. The stock has a market capitalization of $77.43 billion, a P/E ratio of 29.73, a P/E/G ratio of 3.52 and a beta of 1.10. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $166.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The firm’s 50-day moving average is $134.55 and its two-hundred day moving average is $133.79.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on ABNB. Barclays upped their target price on shares of Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, February 14th. Hsbc Global Res raised Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. JMP Securities reissued a “market perform” rating on shares of Airbnb in a report on Friday, February 14th. Wells Fargo & Company decreased their price target on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a report on Thursday, January 16th. Finally, Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research report 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $147.36.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $126.00, for a total transaction of $88,200.00. Following the completion of the transaction, the chief technology officer now owns 171,419 shares of the company’s stock, valued at approximately $21,598,794. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 230,772 shares of Airbnb stock in a transaction on Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the completion of the transaction, the chief executive officer now owns 12,000,913 shares in the company, valued at approximately $1,934,067,139.08. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,250,894 shares of company stock worth $314,940,768. 27.83% of the stock is currently owned by insiders.

Airbnb 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.