Parnassus Investments LLC Purchases 647,758 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Parnassus Investments LLC lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 8,324.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 655,539 shares of the company’s stock after purchasing an additional 647,758 shares during the period. Parnassus Investments LLC owned 0.10% of Airbnb worth $86,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Airbnb during the fourth quarter worth $25,000. Berbice Capital Management LLC acquired a new position in shares of Airbnb in the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in Airbnb during the third quarter worth about $30,000. Whipplewood Advisors LLC acquired a new stake in Airbnb in the 4th quarter worth about $44,000. Finally, Cromwell Holdings LLC boosted its holdings in Airbnb by 82.5% in the 4th quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock valued at $49,000 after purchasing an additional 170 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Nathan Blecharczyk sold 183,078 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the sale, the insider now directly owns 164,850 shares of the company’s stock, valued at $26,046,300. This represents a 52.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $133.58, for a total value of $5,137,620.38. Following the transaction, the chief executive officer now directly owns 12,537,369 shares in the company, valued at approximately $1,674,741,751.02. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,269,494 shares of company stock worth $318,203,453. Insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB stock opened at $119.38 on Friday. The firm has a 50 day moving average of $136.49 and a 200-day moving average of $132.80. The company has a market cap of $75.27 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. 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 $170.10.

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

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of recent analyst reports. DA Davidson raised their price target on Airbnb from $131.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Wedbush reissued an “outperform” rating and issued a $155.00 target price on shares of Airbnb in a report on Tuesday, February 4th. Robert W. Baird upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $140.00 to $175.00 in a research report on Friday, February 14th. Baird R W upgraded shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Evercore ISI boosted their price objective on shares of Airbnb to $155.00 and gave the company a “hold” rating in a research report on Wednesday, January 15th. Five research analysts have rated the stock with a sell rating, eighteen have issued 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 a consensus rating of “Hold” and a consensus target price of $148.00.

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.