Whittier Trust Co. Cuts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Whittier Trust Co. lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 84.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Edgewood Management LLC grew its holdings 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 worth $1,722,388,000 after purchasing an additional 1,143,464 shares during the last quarter. Geode Capital Management LLC grew 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 worth $1,189,635,000 after purchasing an additional 146,761 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Airbnb by 3.1% in the fourth 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $299,272,000 after purchasing an additional 80,610 shares during the last quarter. Finally, Temasek Holdings Private Ltd grew its holdings in shares of Airbnb by 91.3% in the third 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 during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABNB. Jefferies Financial Group upgraded shares of Airbnb from a “hold” rating to a “buy” rating and lifted their price target for the company from $165.00 to $185.00 in a report on Monday, March 10th. Gordon Haskett upgraded shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price target on the stock in a report on Friday, February 14th. Wedbush reiterated an “outperform” rating and issued a $155.00 price target on shares of Airbnb in a report on Tuesday, February 4th. Susquehanna lifted their price target on shares of Airbnb from $160.00 to $200.00 and gave the company a “positive” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley lifted their price target on shares of Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $147.82.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $128.80 on Friday. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.00. The business has a 50-day simple moving average of $135.72 and a two-hundred day simple moving average of $133.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market cap of $81.21 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share 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, analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $135.94, for a total transaction of $29,129,902.90. Following the completion of the transaction, the director now directly owns 1,285,715 shares in the company, valued at approximately $174,780,097.10. The trade was a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 164,850 shares of the company’s stock, valued at approximately $26,046,300. This trade represents a 52.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,094,370 shares of company stock worth $294,900,910 in the last three months. 27.83% of the stock is currently owned by company insiders.

Airbnb Company 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.