Resona Asset Management Co. Ltd. Reduces Stock Holdings in Airbnb, Inc. $ABNB

Resona Asset Management Co. Ltd. trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,579 shares of the company’s stock after selling 6,572 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Airbnb were worth $17,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in Airbnb during the 3rd quarter worth $25,000. ORG Partners LLC grew its stake in Airbnb by 97.0% during the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Entrust Financial LLC purchased a new stake in Airbnb during the 4th quarter valued at about $27,000. Sunbelt Securities Inc. grew its stake in Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Finally, Wiser Advisor Group LLC purchased a new stake in Airbnb during the 3rd quarter valued at about $27,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

In related news, insider Nathan Blecharczyk sold 60,136 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $145.70, for a total value of $8,761,815.20. Following the completion of the transaction, the insider owned 11,920 shares of the company’s stock, valued at approximately $1,736,744. This represents a 83.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $126.16, for a total value of $7,317,280.00. Following the completion of the transaction, the director directly owned 170,015 shares of the company’s stock, valued at $21,449,092.40. The trade was a 25.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 459,838 shares of company stock valued at $62,185,245 in the last ninety days. 27.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

ABNB has been the topic of several research analyst reports. Morgan Stanley downgraded Airbnb from an “underweight” rating to an “underweight” rating in a research note on Monday, May 4th. B. Riley Financial reiterated a “buy” rating on shares of Airbnb in a research note on Friday, May 8th. Scotiabank initiated coverage on Airbnb in a research note on Monday, May 4th. They set an “outperform” rating on the stock. Wells Fargo & Company boosted their price target on Airbnb from $178.00 to $181.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating on shares of Airbnb in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.67.

Airbnb Stock Performance

NASDAQ ABNB opened at $131.16 on Wednesday. The stock has a market capitalization of $79.05 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 1.44 and a beta of 1.20. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $147.25. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $133.49 and a 200 day moving average of $129.70.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Sell-side analysts anticipate that Airbnb, Inc. will post 4.91 EPS for the current fiscal year.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.