Norges Bank Takes $433.37 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

Norges Bank purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,297,878 shares of the company’s stock, valued at approximately $433,374,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Verde Capital Management boosted its stake in Airbnb by 25.3% in the fourth quarter. Verde Capital Management now owns 21,118 shares of the company’s stock valued at $2,775,000 after acquiring an additional 4,269 shares during the last quarter. Tri Ri Asset Management Corp bought a new stake in shares of Airbnb in the 3rd quarter worth approximately $6,352,000. Baltimore Washington Financial Advisors Inc. lifted its stake in Airbnb by 14.8% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 49,447 shares of the company’s stock valued at $6,498,000 after purchasing an additional 6,357 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Airbnb by 40.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock valued at $90,123,000 after purchasing an additional 197,558 shares during the period. Finally, Sarasin & Partners LLP purchased a new stake in Airbnb in the fourth quarter worth $2,272,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Trading Down 3.9 %

Shares of ABNB stock opened at $120.69 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The business has a 50-day moving average of $135.29 and a 200 day moving average of $133.58. The stock has a market capitalization of $76.10 billion, a PE ratio of 29.22, a P/E/G ratio of 3.52 and a beta of 1.10. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $166.74.

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 the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 183,078 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was 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 of the company’s stock, valued at $26,046,300. This trade represents a 52.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $135.94, for a total value of $29,129,902.90. Following the completion of the sale, the director now owns 1,285,715 shares of the company’s stock, valued at approximately $174,780,097.10. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,270,894 shares of company stock worth $317,578,168. 27.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ABNB shares. B. Riley upped their price target on Airbnb from $131.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Evercore ISI upped their price objective on shares of Airbnb to $155.00 and gave the company a “hold” rating in a report on Wednesday, January 15th. Canaccord Genuity Group lifted their target price on shares of Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Benchmark upped their price target on shares of Airbnb from $150.00 to $178.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Hsbc Global Res upgraded shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $147.36.

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.