Franklin Resources Inc. Reduces Position in Airbnb, Inc. (NASDAQ:ABNB)

Franklin Resources Inc. decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 83.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,114,995 shares of the company’s stock after selling 5,446,371 shares during the period. Franklin Resources Inc.’s holdings in Airbnb were worth $146,522,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CAP Partners LLC grew its stake in Airbnb by 3.6% in the 4th quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after buying an additional 77 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Airbnb by 1.4% in the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock worth $728,000 after acquiring an additional 78 shares during the period. Manchester Capital Management LLC grew its position in shares of Airbnb by 18.2% in the fourth quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock valued at $69,000 after purchasing an additional 81 shares in the last quarter. Salvus Wealth Management LLC raised its stake in shares of Airbnb by 2.5% during the 4th quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after purchasing an additional 84 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of Airbnb by 2.3% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 4,285 shares of the company’s stock valued at $565,000 after buying an additional 95 shares during the period. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Up 1.3 %

Shares of Airbnb stock opened at $122.80 on Thursday. The company has a 50-day simple moving average of $134.55 and a two-hundred day simple moving average of $133.79. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $166.74. 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 stock has a market capitalization of $77.43 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the sale, the chief executive officer now owns 12,000,913 shares of the company’s stock, valued at $1,934,067,139.08. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $137.00, for a total transaction of $856,250.00. Following the transaction, the chief financial officer now directly owns 491,238 shares of the company’s stock, valued at $67,299,606. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,250,894 shares of company stock valued at $314,940,768 over the last ninety days. Insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Truist Financial lowered their price objective on Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Robert W. Baird dropped their target price on shares of Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. Gordon Haskett upgraded shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 target price for the company in a research report on Friday, February 14th. Canaccord Genuity Group upped their price objective on Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company decreased their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.