LGT Fund Management Co Ltd. Buys New Stake in Airbnb, Inc. (NASDAQ:ABNB)

LGT Fund Management Co Ltd. purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,000 shares of the company’s stock, valued at approximately $2,103,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABNB. Creative Financial Designs Inc. ADV grew its position in Airbnb by 12.6% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,017 shares of the company’s stock worth $129,000 after purchasing an additional 114 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Airbnb by 42.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 10,049 shares of the company’s stock worth $1,326,000 after purchasing an additional 3,012 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in Airbnb in the 3rd quarter worth $697,000. HS Management Partners LLC grew its position in Airbnb by 186.4% in the 3rd quarter. HS Management Partners LLC now owns 298,395 shares of the company’s stock worth $37,839,000 after purchasing an additional 194,220 shares during the last quarter. Finally, Cohen Capital Management Inc. acquired a new stake in Airbnb in the 3rd quarter worth $648,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $137.00, for a total value 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. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 38,461 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $137.49, for a total transaction of $5,288,002.89. Following the completion of the sale, the chief executive officer now directly owns 12,577,839 shares of the company’s stock, valued at $1,729,327,084.11. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,087,020 shares of company stock worth $295,392,297 over the last ninety days. Company insiders own 27.83% of the company’s stock.

Airbnb Trading Up 1.5 %

Shares of NASDAQ ABNB opened at $140.98 on Tuesday. The company’s 50 day simple moving average is $136.65 and its 200 day simple moving average is $132.18. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The firm has a market capitalization of $88.89 billion, a P/E ratio of 34.14, a P/E/G 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 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. On average, analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wedbush restated an “outperform” rating and issued a $155.00 price target on shares of Airbnb in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their target price on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Barclays lifted their target price on shares of Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a research report on Friday, February 14th. Canaccord Genuity Group lifted their target price on shares of Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Citigroup lifted their target price on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $146.48.

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.