Sumitomo Mitsui DS Asset Management Company Ltd Has $13.65 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,620 shares of the company’s stock after selling 154 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Airbnb were worth $13,647,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ABNB. Massmutual Trust Co. FSB ADV increased its position in Airbnb by 29.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 794 shares of the company’s stock worth $131,000 after buying an additional 182 shares during the last quarter. Wedmont Private Capital increased its position in Airbnb by 11.8% during the first quarter. Wedmont Private Capital now owns 3,321 shares of the company’s stock worth $540,000 after buying an additional 351 shares during the last quarter. Park Avenue Securities LLC increased its position in Airbnb by 4.6% during the first quarter. Park Avenue Securities LLC now owns 11,770 shares of the company’s stock worth $1,942,000 after buying an additional 520 shares during the last quarter. Marcum Wealth LLC acquired a new position in Airbnb during the first quarter worth $216,000. Finally, RFG Advisory LLC acquired a new position in Airbnb during the first quarter worth $414,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $149.11, for a total value of $11,928,800.00. Following the completion of the sale, the chief technology officer now owns 207,574 shares of the company’s stock, valued at $30,951,359.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the completion of the transaction, the chief technology officer now directly owns 207,574 shares in the company, valued at approximately $30,951,359.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 600,956 shares of company stock valued at $79,260,444 over the last quarter. Corporate insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABNB. Cantor Fitzgerald restated an “underweight” rating and set a $94.00 price target on shares of Airbnb in a report on Monday, October 7th. Susquehanna decreased their price target on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a report on Wednesday, August 7th. Sanford C. Bernstein decreased their price target on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Finally, Barclays decreased their price target on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average price target of $134.55.

Airbnb Stock Performance

Shares of Airbnb stock opened at $136.45 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $87.88 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.83 and a beta of 1.17. The firm has a 50 day simple moving average of $123.17 and a 200 day simple moving average of $140.08. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Sell-side analysts predict that Airbnb, Inc. will post 4.33 earnings per share 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.