Legal & General Group Plc Sells 722,427 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Legal & General Group Plc decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,620,073 shares of the company’s stock after selling 722,427 shares during the period. Legal & General Group Plc’s holdings in Airbnb were worth $344,304,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CAP Partners LLC lifted its position in shares of Airbnb by 3.6% during the 4th quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after buying an additional 77 shares during the last quarter. Lindbrook Capital LLC boosted its position in Airbnb by 1.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock worth $728,000 after purchasing an additional 78 shares during the period. Manchester Capital Management LLC increased its stake in shares of Airbnb by 18.2% in the fourth quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock worth $69,000 after purchasing an additional 81 shares in the last quarter. Salvus Wealth Management LLC raised its position in shares of Airbnb by 2.5% in the fourth quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after purchasing an additional 84 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of Airbnb by 2.3% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 4,285 shares of the company’s stock valued at $565,000 after buying an additional 95 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Price Performance

Shares of ABNB stock opened at $105.69 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The stock has a market cap of $66.64 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 3.52 and a beta of 1.15. The business’s fifty day moving average is $132.25 and its 200 day moving average is $133.21. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $166.74.

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

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $119.67, for a total transaction of $83,769.00. Following the completion of the sale, the chief technology officer now directly owns 170,019 shares in the company, valued at $20,346,173.73. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Chesky sold 230,772 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was 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 $1,934,067,139.08. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,030,357 shares of company stock worth $284,351,868. 27.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays boosted 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. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Friday, February 14th. Morgan Stanley lifted their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Benchmark increased their price target on shares of Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, DA Davidson boosted their price objective on shares of Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $146.56.

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.