Polen Capital Management LLC Decreases Stake in Airbnb, Inc. (NASDAQ:ABNB)

Polen Capital Management LLC reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 10.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,216,914 shares of the company’s stock after selling 965,670 shares during the period. Airbnb accounts for 2.9% of Polen Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Polen Capital Management LLC’s holdings in Airbnb were worth $1,079,785,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Edgewood Management LLC raised its position in Airbnb by 9.2% during 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 raised its position in Airbnb by 1.6% during 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 purchasing an additional 146,761 shares during the period. Pacer Advisors Inc. raised its position in Airbnb by 6,085.6% during the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares during the period. Charles Schwab Investment Management Inc. raised its position in Airbnb by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,790,644 shares of the company’s stock valued at $366,719,000 after purchasing an additional 84,348 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Airbnb by 3.5% during 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 purchasing an additional 80,610 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ABNB shares. Jefferies Financial Group upgraded Airbnb from a “hold” rating to a “buy” rating and upped their price objective for the company from $165.00 to $185.00 in a research report on Monday, March 10th. Susquehanna increased their price target on Airbnb from $160.00 to $200.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Morgan Stanley increased their price target on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Argus upgraded Airbnb from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price target on Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $148.15.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $130.18, for a total transaction of $91,126.00. Following the completion of the transaction, the chief technology officer now owns 172,119 shares in the company, valued at approximately $22,406,451.42. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.80, for a total value of $27,171,338.00. Following the transaction, the director now owns 214,290 shares of the company’s stock, valued at $27,171,972. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,269,494 shares of company stock worth $318,203,453 in the last 90 days. Insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB opened at $122.86 on Monday. The firm has a market cap of $77.47 billion, a PE ratio of 29.75, a P/E/G ratio of 3.52 and a beta of 1.10. 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 stock has a fifty day moving average price of $136.23 and a 200-day moving average price of $133.07. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its 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%. Equities research analysts predict that Airbnb, Inc. will post 4.31 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.