Investment Management Corp of Ontario Buys 6,762 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Investment Management Corp of Ontario lifted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 46.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,449 shares of the company’s stock after buying an additional 6,762 shares during the quarter. Investment Management Corp of Ontario’s holdings in Airbnb were worth $2,819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABNB. Principal Financial Group Inc. grew its holdings in shares of Airbnb by 17.9% during the 3rd quarter. Principal Financial Group Inc. now owns 680,539 shares of the company’s stock valued at $86,299,000 after purchasing an additional 103,087 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Airbnb by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,011 shares of the company’s stock valued at $3,679,000 after purchasing an additional 241 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Airbnb by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,693 shares of the company’s stock valued at $1,799,000 after purchasing an additional 335 shares during the last quarter. Czech National Bank grew its holdings in shares of Airbnb by 4.7% during the 4th quarter. Czech National Bank now owns 93,857 shares of the company’s stock valued at $12,334,000 after purchasing an additional 4,224 shares during the last quarter. Finally, Wedmont Private Capital grew its holdings in shares of Airbnb by 26.2% during the 4th quarter. Wedmont Private Capital now owns 3,505 shares of the company’s stock valued at $454,000 after purchasing an additional 727 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Up 0.5%

ABNB opened at $127.06 on Monday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average price of $121.52 and a 200-day moving average price of $131.17. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock has a market capitalization of $80.12 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ABNB shares. The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and increased their target price for the company from $110.00 to $153.00 in a report on Friday, February 14th. UBS Group cut their price target on shares of Airbnb from $160.00 to $138.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Phillip Securities lowered shares of Airbnb from a “hold” rating to a “moderate sell” rating in a report on Friday. Piper Sandler cut their price target on shares of Airbnb from $145.00 to $132.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $141.43.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $161.05, for a total transaction of $112,735.00. Following the completion of the sale, the chief technology officer now directly owns 180,514 shares in the company, valued at approximately $29,071,779.70. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the sale, the insider now 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 disclosure for this sale can be found here. Insiders sold 2,173,970 shares of company stock valued at $293,686,892 over the last three months. Insiders own 27.91% 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.