APG Asset Management N.V. Lowers Holdings in Airbnb, Inc. (NASDAQ:ABNB)

APG Asset Management N.V. decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,578 shares of the company’s stock after selling 2,077 shares during the period. APG Asset Management N.V.’s holdings in Airbnb were worth $7,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABNB. Geode Capital Management LLC grew its holdings in shares of Airbnb by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock valued at $1,244,514,000 after buying an additional 72,991 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock valued at $548,683,000 after purchasing an additional 558,856 shares during the last quarter. Norges Bank bought a new stake in shares of Airbnb in the 4th quarter worth $433,374,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Airbnb by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,790,644 shares of the company’s stock worth $366,719,000 after purchasing an additional 84,348 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABNB has been the topic of several recent analyst reports. Truist Financial dropped their price objective on Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of Airbnb from $134.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday. Tigress Financial increased their price objective on shares of Airbnb from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Jefferies Financial Group raised shares of Airbnb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. Finally, Canaccord Genuity Group increased their price target on Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, February 14th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $146.56.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $108.76, for a total transaction of $23,305,636.60. Following the completion of the transaction, the director now owns 2,294,870 shares in the company, valued at $249,590,061.20. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $110.74, for a total transaction of $77,518.00. Following the completion of the sale, the chief technology officer now owns 223,522 shares in the company, valued at approximately $24,752,826.28. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,245,342 shares of company stock worth $307,735,023. Corporate insiders own 27.83% of the company’s stock.

Airbnb Price Performance

ABNB stock opened at $113.91 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The company’s fifty day moving average price is $131.53 and its 200-day moving average price is $132.95. Airbnb, Inc. has a one year low of $99.88 and a one year high of $166.74. The company has a market capitalization of $71.82 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 3.52 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping 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, equities analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

About Airbnb

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.