World Equity Group Inc. Raises Position in Airbnb, Inc. (NASDAQ:ABNB)

World Equity Group Inc. lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 115.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,670 shares of the company’s stock after acquiring an additional 1,967 shares during the quarter. World Equity Group Inc.’s holdings in Airbnb were worth $438,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Airbnb by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock worth $1,244,514,000 after buying an additional 72,991 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after acquiring an additional 2,590,475 shares during the period. Northern Trust Corp raised its position in Airbnb by 8.4% in the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company’s stock worth $564,647,000 after acquiring an additional 331,607 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Airbnb by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock valued at $548,683,000 after acquiring an additional 558,856 shares during the period. Finally, Norges Bank acquired a new stake in Airbnb in the fourth quarter valued at $433,374,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Airbnb

In other news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $129.38, for a total value of $27,724,193.30. Following the completion of the sale, the director now owns 2,509,155 shares of the company’s stock, valued at approximately $324,634,473.90. The trade was a 7.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 2,245 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $134.03, for a total transaction of $300,897.35. Following the transaction, the insider now directly owns 188,173 shares in the company, valued at $25,220,827.19. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,624,472 shares of company stock valued at $203,509,100 in the last ninety days. Insiders own 27.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABNB. Barclays cut their price target on shares of Airbnb from $120.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, May 2nd. Susquehanna dropped their target price on shares of Airbnb from $200.00 to $150.00 and set a “positive” rating for the company in a report on Monday, May 5th. BTIG Research reissued a “neutral” rating on shares of Airbnb in a research note on Wednesday, May 28th. DA Davidson upgraded Airbnb from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $170.00 to $155.00 in a report on Wednesday, April 30th. Finally, UBS Group reduced their price objective on Airbnb from $160.00 to $138.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $141.23.

Airbnb Stock Performance

Airbnb stock opened at $131.73 on Friday. The firm has a market capitalization of $82.52 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 2.47 and a beta of 1.14. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The stock’s 50 day moving average price is $128.10 and its 200 day moving average price is $130.58.

Airbnb (NASDAQ:ABNB) last posted its 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 firm 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 company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.