Sumitomo Mitsui Trust Group Inc. Purchases 650,059 Shares of Airbnb, Inc. $ABNB

Sumitomo Mitsui Trust Group Inc. grew its position in Airbnb, Inc. (NASDAQ:ABNB) by 55.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,829,731 shares of the company’s stock after purchasing an additional 650,059 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.29% of Airbnb worth $242,147,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ABNB. GAMMA Investing LLC boosted its stake in shares of Airbnb by 98.9% in the 1st quarter. GAMMA Investing LLC now owns 5,115 shares of the company’s stock valued at $611,000 after purchasing an additional 2,543 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Airbnb in the 1st quarter valued at $698,000. Spire Wealth Management boosted its stake in shares of Airbnb by 40.1% in the 1st quarter. Spire Wealth Management now owns 909 shares of the company’s stock valued at $109,000 after purchasing an additional 260 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Airbnb by 0.8% in the 1st quarter. Bessemer Group Inc. now owns 189,448 shares of the company’s stock valued at $22,631,000 after purchasing an additional 1,486 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Airbnb by 366.3% in the 1st quarter. Golden State Wealth Management LLC now owns 886 shares of the company’s stock valued at $106,000 after purchasing an additional 696 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Trading Up 0.5%

Airbnb stock opened at $127.99 on Friday. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm has a market capitalization of $79.54 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. The firm’s fifty day moving average price is $124.48 and its two-hundred day moving average price is $127.84.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity

In related news, CFO Elinor Mertz sold 4,630 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the transaction, the chief financial officer directly owned 444,070 shares of the company’s stock, valued at $57,027,469.40. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $120.46, for a total transaction of $72,276.00. Following the transaction, the chief technology officer directly owned 197,806 shares in the company, valued at $23,827,710.76. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,425,876 shares of company stock valued at $177,336,982 over the last ninety days. Company insiders own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ABNB shares. Mizuho started coverage on shares of Airbnb in a research note on Monday, September 29th. They set an “outperform” rating and a $151.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the stock a “market perform” rating in a research note on Thursday, August 7th. KeyCorp started coverage on shares of Airbnb in a research note on Thursday. They set a “sector weight” rating on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Airbnb in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus target price of $141.70.

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.