Nomura Asset Management Co. Ltd. Buys 3,781 Shares of Airbnb, Inc. $ABNB

Nomura Asset Management Co. Ltd. grew its stake in Airbnb, Inc. (NASDAQ:ABNB) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,118 shares of the company’s stock after purchasing an additional 3,781 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Airbnb were worth $21,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Sumitomo Life Insurance Co. increased its holdings in Airbnb by 15.0% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 66,071 shares of the company’s stock worth $8,022,000 after purchasing an additional 8,636 shares during the period. Syntax Research Inc. purchased a new position in Airbnb during the 3rd quarter worth $1,865,000. Merit Financial Group LLC increased its holdings in Airbnb by 72.1% during the 4th quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock worth $4,478,000 after purchasing an additional 13,818 shares during the period. Bessemer Group Inc. increased its holdings in Airbnb by 74.9% during the 3rd quarter. Bessemer Group Inc. now owns 21,673 shares of the company’s stock worth $2,631,000 after purchasing an additional 9,284 shares during the period. Finally, Madison Asset Management LLC increased its holdings in Airbnb by 55.0% during the 3rd quarter. Madison Asset Management LLC now owns 401,679 shares of the company’s stock worth $48,772,000 after purchasing an additional 142,583 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 265,746 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12. Following the completion of the sale, the chief executive officer owned 11,206,389 shares of the company’s stock, valued at $1,481,708,753.58. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 2,860 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $133.44, for a total value of $381,638.40. Following the completion of the sale, the director directly owned 3,447,355 shares of the company’s stock, valued at $460,015,051.20. The trade was a 0.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 968,723 shares of company stock worth $130,478,651 over the last quarter. Company insiders own 27.21% of the company’s stock.

Airbnb Stock Up 3.4%

Airbnb stock opened at $137.87 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $83.09 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.43 and a beta of 1.20. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $147.25. The business has a fifty day moving average price of $134.07 and a 200-day moving average price of $130.37.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data 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 firm’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 business earned $0.24 EPS. Equities research analysts forecast that Airbnb, Inc. will post 4.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ABNB. Benchmark raised their price objective on Airbnb from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Needham & Company LLC began coverage on Airbnb in a report on Monday, May 4th. They set a “buy” rating on the stock. DA Davidson raised their price objective on Airbnb from $150.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Oppenheimer upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a report on Monday, May 4th. Finally, Barclays raised their price objective on Airbnb from $122.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.67.

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.