ICICI Prudential Asset Management Co Ltd Grows Position in Airbnb, Inc. (NASDAQ:ABNB)

ICICI Prudential Asset Management Co Ltd increased its position in Airbnb, Inc. (NASDAQ:ABNB) by 18.5% in the third quarter, HoldingsChannel reports. The firm owned 5,744 shares of the company’s stock after purchasing an additional 895 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Airbnb were worth $728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Airbnb by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after purchasing an additional 791,149 shares during the period. Price T Rowe Associates Inc. MD increased its position in Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after buying an additional 3,558,178 shares in the last quarter. Legal & General Group Plc increased its position in Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after buying an additional 153,784 shares in the last quarter. Clearbridge Investments LLC increased its position in Airbnb by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 2,001,711 shares of the company’s stock valued at $330,202,000 after buying an additional 12,200 shares in the last quarter. Finally, Farallon Capital Management LLC increased its position in Airbnb by 5.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,701,000 shares of the company’s stock valued at $257,923,000 after buying an additional 92,780 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the transaction, the director now directly owns 16,472 shares in the company, valued at approximately $2,259,958.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the transaction, the director now owns 16,472 shares in the company, valued at $2,259,958.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 417,806 shares of company stock worth $51,809,831. Corporate insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Sanford C. Bernstein reduced their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Morgan Stanley raised their price objective on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group reduced their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Finally, Robert W. Baird raised their price objective on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $139.31.

Airbnb Stock Performance

NASDAQ ABNB traded up $0.43 on Wednesday, hitting $133.63. 1,074,790 shares of the company traded hands, compared to its average volume of 4,495,508. The company has a market capitalization of $85.74 billion, a price-to-earnings ratio of 46.74, a P/E/G ratio of 2.05 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average price is $129.90 and its 200-day moving average price is $136.99. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter last year, the firm posted $2.39 earnings per share. Equities analysts expect that Airbnb, Inc. will post 4.04 earnings per share for the current year.

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.