Legal & General Group Plc Decreases Position in 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 & Exchange Commission. The institutional investor owned 2,620,073 shares of the company’s stock after selling 722,427 shares during the quarter. Legal & General Group Plc owned 0.41% of Airbnb worth $344,304,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Airbnb in the fourth quarter valued at $433,374,000. Clearbridge Investments LLC grew its holdings in Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after acquiring an additional 2,590,475 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Airbnb by 174.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after purchasing an additional 1,185,892 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Airbnb by 8,324.9% during the 4th quarter. Parnassus Investments LLC now owns 655,539 shares of the company’s stock worth $86,144,000 after acquiring an additional 647,758 shares in the last quarter. Finally, Trivest Advisors Ltd increased its position in shares of Airbnb by 137.3% in the fourth quarter. Trivest Advisors Ltd now owns 849,500 shares of the company’s stock valued at $111,633,000 after buying an additional 491,500 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Brian Chesky sold 38,461 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $133.19, for a total value of $5,122,620.59. Following the completion of the sale, the chief executive officer now owns 12,460,447 shares in the company, valued at $1,659,606,935.93. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $129.82, for a total transaction of $90,874.00. Following the completion of the sale, the chief technology officer now directly owns 184,014 shares of the company’s stock, valued at $23,888,697.48. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,030,357 shares of company stock worth $284,351,868. Company insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABNB. Benchmark upped their price target on shares of Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Argus upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and raised their target price for the company from $110.00 to $153.00 in a research note on Friday, February 14th. Morgan Stanley lifted their target price on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Finally, Robert W. Baird decreased their target price on Airbnb from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $146.56.

Airbnb Stock Performance

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

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping 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%. On average, equities 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.