Sumitomo Mitsui Trust Group Inc. Purchases 8,777 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,048,013 shares of the company’s stock after acquiring an additional 8,777 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.17% of Airbnb worth $137,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABNB. Strategic Financial Concepts LLC bought a new stake in Airbnb in the fourth quarter worth approximately $6,198,000. Financial Advocates Investment Management acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $323,000. Trilogy Capital Inc. grew its position in shares of Airbnb by 34.7% during the 4th quarter. Trilogy Capital Inc. now owns 15,586 shares of the company’s stock worth $2,048,000 after buying an additional 4,015 shares during the period. Confluence Wealth Services Inc. bought a new stake in shares of Airbnb in the 4th quarter valued at $211,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Airbnb by 15.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,726 shares of the company’s stock valued at $17,146,000 after acquiring an additional 16,773 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Airbnb

In related news, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $128.15, for a total transaction of $89,705.00. Following the sale, the chief technology officer now directly owns 182,614 shares in the company, valued at approximately $23,401,984.10. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the transaction, the director now owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. This represents a 95.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,417,704 shares of company stock valued at $187,654,829 over the last three months. 27.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Morgan Stanley boosted their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. DA Davidson increased their price target on Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Truist Financial reduced their price objective on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Finally, Piper Sandler upped their target price on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $139.63.

Airbnb Price Performance

Airbnb stock opened at $134.98 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The business’s 50 day simple moving average is $132.98 and its 200 day simple moving average is $130.17. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a market cap of $85.57 billion, a price-to-earnings ratio of 47.36, a PEG ratio of 1.72 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted $2.39 EPS. Sell-side analysts forecast that Airbnb, Inc. will post 3.98 EPS for the current year.

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.