Franklin Resources Inc. Grows Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Franklin Resources Inc. lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,436,374 shares of the company’s stock after purchasing an additional 4,975 shares during the period. Franklin Resources Inc.’s holdings in Airbnb were worth $195,548,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. acquired a new stake in Airbnb during the 3rd quarter worth $217,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Airbnb by 26.2% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,085 shares of the company’s stock valued at $3,439,000 after purchasing an additional 5,215 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Airbnb by 657.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 757 shares of the company’s stock valued at $104,000 after purchasing an additional 657 shares during the period. Larson Financial Group LLC increased its stake in Airbnb by 67.4% in the third quarter. Larson Financial Group LLC now owns 2,390 shares of the company’s stock valued at $328,000 after purchasing an additional 962 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in Airbnb in the third quarter valued at $337,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABNB. TD Cowen lowered their target price on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. BMO Capital Markets lifted their target price on shares of Airbnb from $135.00 to $151.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. Benchmark began coverage on shares of Airbnb in a report on Thursday, April 11th. They issued a “buy” rating and a $190.00 target price on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $145.00 target price on shares of Airbnb in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Airbnb from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $152.13.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 75,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $155.31, for a total value of $11,725,905.00. Following the completion of the transaction, the chief technology officer now directly owns 146,131 shares in the company, valued at $22,695,605.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $163.00, for a total transaction of $97,800.00. Following the transaction, the chief technology officer now directly owns 144,931 shares in the company, valued at approximately $23,623,753. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 75,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the transaction, the chief technology officer now owns 146,131 shares in the company, valued at $22,695,605.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 312,724 shares of company stock worth $51,298,855. 27.83% of the stock is currently owned by company insiders.

Airbnb Trading Down 0.5 %

Shares of Airbnb stock traded down $0.66 during trading hours on Wednesday, hitting $143.44. The company’s stock had a trading volume of 1,105,665 shares, compared to its average volume of 4,548,633. The company has a market capitalization of $92.38 billion, a PE ratio of 19.29, a P/E/G ratio of 1.80 and a beta of 1.24. The business has a fifty day moving average of $158.92 and a 200 day moving average of $147.48. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 1-year low of $103.74 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.18. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. As a group, equities analysts forecast that Airbnb, Inc. will post 4.67 EPS for the current year.

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.