OVERSEA CHINESE BANKING Corp Ltd Has $5.80 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 16.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,249 shares of the company’s stock after acquiring an additional 6,762 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Airbnb were worth $5,804,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Proficio Capital Partners LLC boosted its holdings in Airbnb by 2.6% during the fourth quarter. Proficio Capital Partners LLC now owns 12,069 shares of the company’s stock worth $1,586,000 after buying an additional 308 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Airbnb by 49.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,985 shares of the company’s stock worth $786,000 after acquiring an additional 1,983 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Airbnb by 35.1% in the 4th quarter. Farther Finance Advisors LLC now owns 3,559 shares of the company’s stock valued at $468,000 after buying an additional 924 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Airbnb by 19.3% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,256 shares of the company’s stock valued at $559,000 after buying an additional 689 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Airbnb by 16.9% in the 4th quarter. Natixis Advisors LLC now owns 134,822 shares of the company’s stock valued at $17,717,000 after buying an additional 19,535 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Airbnb

In related news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $123.43, for a total value of $771,437.50. Following the completion of the sale, the chief financial officer owned 485,080 shares of the company’s stock, valued at approximately $59,873,424.40. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total value of $30,363,760.00. Following the completion of the sale, the director directly owned 1,416,015 shares of the company’s stock, valued at approximately $182,184,489.90. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,629,043 shares of company stock valued at $210,678,753 over the last quarter. 27.83% of the stock is currently owned by insiders.

Airbnb Stock Performance

Airbnb stock opened at $138.57 on Tuesday. The company has a market cap of $86.80 billion, a PE ratio of 34.99, a PEG ratio of 2.53 and a beta of 1.13. The business’s 50-day simple moving average is $133.27 and its two-hundred day simple moving average is $130.61. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. DA Davidson upgraded Airbnb from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $170.00 to $155.00 in a research report on Wednesday, April 30th. UBS Group reduced their price objective on Airbnb from $160.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Phillip Securities lowered Airbnb from a “hold” rating to a “moderate sell” rating in a research note on Friday, May 9th. Canaccord Genuity Group cut their price objective on Airbnb from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Finally, Truist Financial reiterated a “sell” rating and issued a $106.00 target price (down from $112.00) on shares of Airbnb in a report on Friday, May 30th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $141.47.

Airbnb Company 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.