Prudential Financial Inc. Reduces Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Prudential Financial Inc. lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 14.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 222,212 shares of the company’s stock after selling 37,779 shares during the period. Prudential Financial Inc.’s holdings in Airbnb were worth $29,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Airbnb by 1.6% during the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after acquiring an additional 146,761 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Airbnb by 3.1% during the 4th 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 position 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 valued at $299,272,000 after purchasing an additional 80,610 shares in the last quarter. Temasek Holdings Private Ltd increased 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 valued at $294,726,000 after purchasing an additional 1,109,076 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock worth $245,268,000 after buying an additional 1,185,892 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of Airbnb stock opened at $129.88 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.00. The firm’s 50 day moving average is $135.79 and its two-hundred day moving average is $133.64. The firm has a market capitalization of $81.89 billion, a P/E ratio of 31.45, a P/E/G ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 38,461 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $135.82, for a total transaction of $5,223,773.02. Following the completion of the sale, the chief executive officer now directly owns 12,498,908 shares of the company’s stock, valued at approximately $1,697,601,684.56. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 20,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $131.87, for a total value of $2,637,400.00. Following the sale, the chief technology officer now directly owns 185,414 shares of the company’s stock, valued at approximately $24,450,544.18. This represents a 9.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,055,909 shares of company stock valued at $289,763,290. Insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

ABNB has been the subject of several analyst reports. Tigress Financial raised their target price on Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research report on Friday, February 14th. 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. Morgan Stanley increased their price target on shares of Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Finally, Gordon Haskett raised shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price target on the stock in a research report 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $147.36.

About Airbnb

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.