Sumitomo Life Insurance Co. Grows Stock Position in Airbnb, Inc. $ABNB

Sumitomo Life Insurance Co. lifted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 15.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 66,071 shares of the company’s stock after acquiring an additional 8,636 shares during the period. Sumitomo Life Insurance Co.’s holdings in Airbnb were worth $8,022,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in Airbnb during the 3rd quarter valued at approximately $32,000. NewSquare Capital LLC grew its holdings in shares of Airbnb by 86.4% during the second quarter. NewSquare Capital LLC now owns 287 shares of the company’s stock valued at $38,000 after buying an additional 133 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in Airbnb by 55.5% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 311 shares of the company’s stock worth $38,000 after acquiring an additional 111 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in Airbnb by 4,255.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the company’s stock worth $48,000 after acquiring an additional 383 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in Airbnb by 85.9% during the 2nd quarter. Golden State Wealth Management LLC now owns 370 shares of the company’s stock valued at $49,000 after purchasing an additional 171 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

ABNB stock opened at $132.02 on Thursday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $145.69. The firm’s fifty day moving average is $130.75 and its 200 day moving average is $126.02. The firm has a market cap of $80.36 billion, a PE ratio of 32.68, a P/E/G ratio of 1.70 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.10). The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. Research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction on Monday, December 1st. The shares were sold at an average price of $118.47, for a total value of $6,871,260.00. Following the sale, the director owned 692,015 shares of the company’s stock, valued at approximately $81,983,017.05. This trade represents a 7.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 51,230 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the completion of the sale, the chief executive officer directly owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. The trade was a 52.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 857,682 shares of company stock valued at $108,169,163 in the last three months. 27.91% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Cantor Fitzgerald set a $121.00 target price on Airbnb in a report on Friday, February 13th. Barclays lifted their price objective on shares of Airbnb from $120.00 to $122.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. BMO Capital Markets increased their price objective on shares of Airbnb from $130.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. Benchmark decreased their target price on shares of Airbnb from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, UBS Group increased their price target on Airbnb from $147.00 to $149.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $148.69.

Airbnb Company Profile

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.