Mandatum Life Insurance Co Ltd Decreases Stake in Airbnb, Inc. (NASDAQ:ABNB)

Mandatum Life Insurance Co Ltd reduced its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,600 shares of the company’s stock after selling 130 shares during the period. Airbnb makes up 0.8% of Mandatum Life Insurance Co Ltd’s holdings, making the stock its 29th biggest position. Mandatum Life Insurance Co Ltd’s holdings in Airbnb were worth $2,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Park Square Financial Group LLC acquired a new position in shares of Airbnb in the fourth quarter valued at approximately $26,000. Orion Capital Management LLC acquired a new position in shares of Airbnb in the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC lifted its stake in Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after acquiring an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its stake in Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock worth $31,000 after acquiring an additional 174 shares during the last quarter. Finally, Graney & King LLC purchased a new position in Airbnb in the fourth quarter worth approximately $32,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABNB has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Airbnb from $104.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, July 7th. B. Riley reduced their price target on shares of Airbnb from $145.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Morgan Stanley boosted their price objective on shares of Airbnb from $125.00 to $130.00 and gave the company an “underweight” rating in a research note on Thursday, April 17th. Wedbush cut shares of Airbnb from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $150.00 to $135.00 in a research note on Friday, May 2nd. Finally, UBS Group lowered their price target on shares of Airbnb from $160.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $141.50.

Airbnb Stock Up 0.5%

Shares of ABNB stock traded up $0.74 during trading hours on Friday, reaching $140.04. 545,855 shares of the company’s stock were exchanged, compared to its average volume of 5,016,827. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a market capitalization of $87.72 billion, a P/E ratio of 35.42, a P/E/G ratio of 2.56 and a beta of 1.13. The business has a fifty day moving average price of $134.10 and a 200-day moving average price of $130.74.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Transactions at Airbnb

In related news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares in the company, valued at $62,680,505.46. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $136.40, for a total value of $32,190,400.00. Following the completion of the transaction, the director owned 708,015 shares in the company, valued at approximately $96,573,246. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,629,043 shares of company stock worth $210,678,753. 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.