Norden Group LLC Sells 3,307 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Norden Group LLC lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,625 shares of the company’s stock after selling 3,307 shares during the quarter. Airbnb makes up approximately 0.3% of Norden Group LLC’s portfolio, making the stock its 26th biggest position. Norden Group LLC’s holdings in Airbnb were worth $2,127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABNB. CVA Family Office LLC bought a new stake in shares of Airbnb during the 4th quarter valued at about $26,000. Orion Capital Management LLC bought a new position in shares of Airbnb in the 3rd quarter worth approximately $27,000. Bfsg LLC bought a new stake in shares of Airbnb during the fourth quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Airbnb in the fourth quarter worth $30,000. Finally, Farmers & Merchants Investments Inc. bought a new position in Airbnb in the third quarter worth $39,000. Institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ABNB shares. Bank of America upped their target price on shares of Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. boosted their price target on Airbnb from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Wells Fargo & Company raised their price objective on Airbnb from $107.00 to $127.00 and gave the company an “underweight” rating in a research report on Monday, April 1st. Piper Sandler boosted their target price on Airbnb from $136.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Barclays raised their price target on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, January 29th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $149.19.

Airbnb Stock Performance

NASDAQ ABNB traded down $2.83 on Tuesday, reaching $159.42. 1,282,748 shares of the stock were exchanged, compared to its average volume of 4,456,209. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a one year low of $103.55 and a one year high of $170.10. The firm has a market capitalization of $103.16 billion, a PE ratio of 22.41, a PEG ratio of 2.18 and a beta of 1.25. The company’s 50-day simple moving average is $160.63 and its two-hundred day simple moving average is $143.86.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Analysts expect that Airbnb, Inc. will post 4.47 EPS for the current fiscal year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 78,682 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $169.30, for a total value of $13,320,862.60. Following the sale, the chief technology officer now directly owns 144,331 shares in the company, valued at $24,435,238.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CTO Aristotle N. Balogh sold 75,500 shares of Airbnb stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $155.31, for a total value of $11,725,905.00. Following the completion of the transaction, the chief technology officer now owns 146,131 shares in the company, valued at $22,695,605.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 78,682 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total value of $13,320,862.60. Following the sale, the chief technology officer now owns 144,331 shares in the company, valued at $24,435,238.30. The disclosure for this sale can be found here. Insiders have sold a total of 456,274 shares of company stock worth $72,410,859 over the last quarter. Insiders own 27.83% of the company’s stock.

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.