Principal Financial Group Inc. Has $152.78 Million Stake in Airbnb, Inc. $ABNB

Principal Financial Group Inc. lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 25.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,209,872 shares of the company’s stock after selling 405,493 shares during the period. Principal Financial Group Inc. owned 0.20% of Airbnb worth $152,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ABNB. Harris Associates L P raised its holdings in shares of Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after purchasing an additional 4,292,383 shares during the period. Norges Bank acquired a new stake in shares of Airbnb in the 4th quarter valued at about $480,332,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Airbnb by 453.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after buying an additional 2,724,682 shares in the last quarter. SRS Investment Management LLC bought a new stake in Airbnb in the 4th quarter valued at about $342,017,000. Finally, AQR Capital Management LLC raised its stake in Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after buying an additional 2,492,847 shares during the period. 80.76% of the stock is owned by institutional investors.

Airbnb Price Performance

ABNB stock opened at $146.54 on Wednesday. The company has a market capitalization of $88.32 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $150.19. The business has a 50-day simple moving average of $138.72 and a two-hundred day simple moving average of $134.17.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. Research analysts expect that Airbnb, Inc. will post 4.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 3,750 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total transaction of $555,037.50. Following the completion of the sale, the chief financial officer owned 445,290 shares in the company, valued at approximately $65,907,372.90. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 2,460 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $150.00, for a total value of $369,000.00. Following the completion of the sale, the director directly owned 2,595,119 shares of the company’s stock, valued at $389,267,850. The trade was a 0.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,325,429 shares of company stock worth $321,925,435. 27.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABNB. B. Riley Financial reiterated a “buy” rating on shares of Airbnb in a report on Friday, May 8th. Evercore reaffirmed an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. Citigroup reiterated an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. UBS Group lifted their price target on shares of Airbnb from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company boosted their price target on shares of Airbnb from $178.00 to $181.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Airbnb currently has an average rating of “Moderate Buy” and a consensus price target of $158.96.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.