Sumitomo Mitsui Trust Group Inc. Grows Stake in Airbnb, Inc. (NASDAQ:ABNB)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 0.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,048,013 shares of the company’s stock after acquiring an additional 8,777 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Airbnb were worth $137,719,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ABNB. Strategic Financial Concepts LLC bought a new position in Airbnb in the 4th quarter worth about $6,198,000. Financial Advocates Investment Management purchased a new position in shares of Airbnb during the fourth quarter worth about $323,000. Trilogy Capital Inc. increased its position in shares of Airbnb by 34.7% in the fourth quarter. Trilogy Capital Inc. now owns 15,586 shares of the company’s stock worth $2,048,000 after purchasing an additional 4,015 shares during the last quarter. Confluence Wealth Services Inc. purchased a new stake in Airbnb in the fourth quarter valued at approximately $211,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Airbnb by 15.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,726 shares of the company’s stock valued at $17,146,000 after purchasing an additional 16,773 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $129.58, for a total value of $90,706.00. Following the sale, the chief technology officer now directly owns 181,914 shares of the company’s stock, valued at $23,572,416.12. The trade was a 0.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 76,923 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the sale, the chief executive officer now owns 12,616,300 shares in the company, valued at $1,765,525,022. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,417,704 shares of company stock worth $187,654,829 in the last quarter. 27.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Robert W. Baird lifted their price target on Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. UBS Group increased their price objective on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Airbnb in a research report on Tuesday. Six investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $139.63.

Airbnb Trading Up 1.8 %

Shares of ABNB opened at $134.98 on Friday. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $132.98 and its 200-day moving average price is $130.17. The firm has a market capitalization of $85.57 billion, a price-to-earnings ratio of 47.36, a PEG ratio of 1.72 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm posted $2.39 earnings per share. Sell-side analysts anticipate that Airbnb, Inc. will post 3.98 EPS for the current year.

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.