LGT Fund Management Co Ltd. Purchases Shares of 16,000 Airbnb, Inc. (NASDAQ:ABNB)

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

Several other large investors also recently made changes to their positions in the company. Edgewood Management LLC increased its stake in shares of Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Airbnb by 1.6% in the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock valued at $1,189,635,000 after acquiring an additional 146,761 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $343,185,000 after acquiring an additional 52,358 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Airbnb by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company’s stock valued at $299,272,000 after acquiring an additional 80,610 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity

In related news, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $161.16, for a total value of $37,191,215.52. Following the transaction, the chief executive officer now directly owns 12,000,913 shares in the company, valued at approximately $1,934,067,139.08. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nathan Blecharczyk sold 26,154 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $145.00, for a total transaction of $3,792,330.00. Following the completion of the transaction, the insider now owns 159,337 shares in the company, valued at $23,103,865. The trade was a 14.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,087,020 shares of company stock worth $295,392,297. 27.83% of the stock is owned by corporate insiders.

Airbnb Stock Up 1.5 %

ABNB stock opened at $140.98 on Tuesday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. 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 company has a market cap of $88.89 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 3.52 and a beta of 1.12. The company has a 50 day moving average of $136.65 and a two-hundred day moving average of $132.18.

Airbnb (NASDAQ:ABNB) last released its quarterly 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%. On average, equities analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABNB shares. Robert W. Baird upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $140.00 to $175.00 in a report on Friday, February 14th. Canaccord Genuity Group increased their price objective on shares of Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, February 14th. Citigroup increased their price objective on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on shares of Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Susquehanna raised their target price on shares of Airbnb from $160.00 to $200.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.