Whittier Trust Co. Lowers Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Whittier Trust Co. cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 84.8% during the fourth quarter, Holdings Channel reports. The firm owned 21,269 shares of the company’s stock after selling 118,402 shares during the quarter. Whittier Trust Co.’s holdings in Airbnb were worth $2,795,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Edgewood Management LLC lifted its holdings in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Airbnb by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after purchasing an additional 146,761 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Airbnb by 3.1% in the 4th 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Airbnb by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company’s stock worth $299,272,000 after purchasing an additional 80,610 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in Airbnb by 91.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock worth $294,726,000 after purchasing an additional 1,109,076 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Price Performance

ABNB opened at $128.80 on Friday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.00. 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 business’s fifty day simple moving average is $135.72 and its 200-day simple moving average is $133.18. The company has a market capitalization of $81.21 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $135.35, for a total transaction of $94,745.00. Following the sale, the chief technology officer now owns 184,714 shares of the company’s stock, valued at $25,001,039.90. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nathan Blecharczyk sold 183,078 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $158.00, for a total value of $28,926,324.00. Following the sale, the insider now directly owns 164,850 shares in the company, valued at approximately $26,046,300. The trade was a 52.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,094,370 shares of company stock valued at $294,900,910 over the last quarter. 27.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABNB. UBS Group upped their price objective on Airbnb from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Benchmark upped their price objective on Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Bank of America upped their price objective on Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Friday, February 14th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Airbnb presently has an average rating of “Hold” and an average price target of $147.82.

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.