Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ABNB. Quest Partners LLC boosted its stake in shares of Airbnb by 3,643.9% during the 3rd quarter. Quest Partners LLC now owns 2,134 shares of the company’s stock worth $271,000 after acquiring an additional 2,077 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in Airbnb by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 3,691 shares of the company’s stock worth $468,000 after purchasing an additional 97 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Airbnb in the third quarter valued at $67,000. Private Trust Co. NA increased its position in shares of Airbnb by 9.9% in the third quarter. Private Trust Co. NA now owns 1,121 shares of the company’s stock valued at $142,000 after buying an additional 101 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Airbnb by 2.1% during the 3rd quarter. D.A. Davidson & CO. now owns 31,575 shares of the company’s stock worth $4,004,000 after buying an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity

In related news, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the completion of the sale, the chief executive officer now directly owns 12,000,913 shares of the company’s stock, valued at approximately $1,934,067,139.08. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the completion of the transaction, the insider now owns 164,850 shares in the company, valued at $26,046,300. This represents a 52.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,055,909 shares of company stock worth $289,763,290 over the last 90 days. Company insiders own 27.83% of the company’s stock.

Airbnb Trading Up 0.0 %

NASDAQ:ABNB opened at $129.88 on Wednesday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.00. The business’s 50-day moving average is $135.79 and its two-hundred day moving average is $133.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market capitalization of $81.89 billion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10.

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

Analysts Set New Price Targets

Several research firms have weighed in on ABNB. Jefferies Financial Group upgraded shares of Airbnb from a “hold” rating to a “buy” rating and raised their target price for the company from $165.00 to $185.00 in a report on Monday, March 10th. Wedbush reissued an “outperform” rating and set a $155.00 price objective on shares of Airbnb in a research note on Tuesday, February 4th. Benchmark lifted their price objective on Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. DA Davidson increased their target price on Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group raised Airbnb from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $110.00 to $153.00 in a report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.