Bessemer Group Inc. Cuts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Bessemer Group Inc. trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 187,962 shares of the company’s stock after selling 14,021 shares during the quarter. Bessemer Group Inc.’s holdings in Airbnb were worth $24,699,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $128.95, for a total value of $27,632,050.75. Following the transaction, the director now owns 1,071,430 shares of the company’s stock, valued at $138,160,898.50. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Chesky sold 230,772 shares of the company’s 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 approximately $1,934,067,139.08. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,245,342 shares of company stock worth $307,735,023. Insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABNB. 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 report on Friday, February 14th. Evercore ISI raised their price objective on Airbnb to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, January 15th. UBS Group upped their target price on Airbnb from $143.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Airbnb in a research note on Friday, February 14th. Finally, Wells Fargo & Company cut their price objective on shares of Airbnb from $134.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $146.56.

Airbnb Stock Performance

ABNB opened at $113.91 on Friday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $166.74. The firm has a market capitalization of $71.82 billion, a PE ratio of 27.58, a PEG ratio of 3.52 and a beta of 1.15. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $131.53 and its 200 day moving average price is $132.95.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Airbnb Company 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.