Lansforsakringar Fondforvaltning AB publ Increases Position in Airbnb, Inc. $ABNB

Lansforsakringar Fondforvaltning AB publ increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.5% during the third quarter, Holdings Channel reports. The institutional investor owned 136,333 shares of the company’s stock after acquiring an additional 4,613 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Airbnb were worth $16,554,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ABNB. Vanguard Group Inc. grew its holdings in shares of Airbnb by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock worth $4,649,814,000 after acquiring an additional 649,323 shares during the period. Harris Associates L P raised its holdings in Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares during the last quarter. Geode Capital Management LLC boosted its position in Airbnb by 1.5% during the second quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock worth $1,314,057,000 after purchasing an additional 145,788 shares in the last quarter. Norges Bank acquired a new stake in Airbnb in the second quarter valued at $483,644,000. Finally, Akre Capital Management LLC grew its holdings in Airbnb by 19.0% in the second quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock valued at $459,649,000 after purchasing an additional 555,510 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 51,230 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $131.16, for a total value of $6,719,326.80. Following the sale, the chief executive officer directly owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. This trade represents a 52.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 141,063 shares of Airbnb stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $121.96, for a total value of $17,204,043.48. Following the completion of the sale, the insider owned 11,520 shares of the company’s stock, valued at $1,404,979.20. This trade represents a 92.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 795,422 shares of company stock worth $100,561,168. 27.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABNB. Wells Fargo & Company lifted their price target on Airbnb from $128.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Airbnb from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a report on Friday, February 13th. DA Davidson cut their target price on shares of Airbnb from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. UBS Group increased their price target on shares of Airbnb from $147.00 to $149.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Citizens Jmp raised shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $148.69.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $127.89 on Monday. The company has a 50-day simple moving average of $131.09 and a 200-day simple moving average of $125.92. The company has a market cap of $77.85 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $154.57.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.