Allstate Corp Grows Position in Airbnb, Inc. $ABNB

Allstate Corp boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 104.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 33,603 shares of the company’s stock after buying an additional 17,183 shares during the quarter. Allstate Corp’s holdings in Airbnb were worth $4,561,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC lifted its position in Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Entrust Financial LLC purchased a new position in Airbnb during the fourth quarter valued at $27,000. Aster Capital Management DIFC Ltd purchased a new position in Airbnb during the third quarter valued at $25,000. Aventura Private Wealth LLC purchased a new position in Airbnb during the fourth quarter valued at $29,000. Finally, Sunbelt Securities Inc. lifted its position in Airbnb by 397.7% during the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Elinor Mertz sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $143.00, for a total transaction of $536,250.00. Following the transaction, the chief financial officer owned 463,415 shares of the company’s stock, valued at approximately $66,268,345. This represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 60,136 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $145.70, for a total value of $8,761,815.20. Following the transaction, the insider directly owned 11,920 shares in the company, valued at approximately $1,736,744. This represents a 83.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 454,317 shares of company stock valued at $62,219,594. 27.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on ABNB shares. Barclays boosted their price objective on Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Benchmark boosted their price objective on Airbnb from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Citigroup restated an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on Airbnb from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.67.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $132.68 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $147.25. The firm has a fifty day simple moving average of $133.76 and a two-hundred day simple moving average of $130.00. The stock has a market capitalization of $79.97 billion, a P/E ratio of 32.68, a PEG ratio of 1.42 and a beta of 1.20.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal 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.