Clearbridge Investments LLC Boosts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Clearbridge Investments LLC grew its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 147.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,349,026 shares of the company’s stock after buying an additional 2,590,475 shares during the quarter. Clearbridge Investments LLC’s holdings in Airbnb were worth $571,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Golden State Wealth Management LLC purchased a new stake in Airbnb in the fourth quarter worth $25,000. Berbice Capital Management LLC purchased a new position in Airbnb during the 4th quarter valued at about $26,000. Graney & King LLC purchased a new stake in shares of Airbnb in the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC purchased a new position in shares of Airbnb in the 4th quarter worth about $44,000. Finally, Cromwell Holdings LLC lifted its stake in shares of Airbnb by 82.5% in the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 20,000 shares of Airbnb stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $131.87, for a total value of $2,637,400.00. Following the transaction, the chief technology officer now directly owns 185,414 shares in the company, valued at approximately $24,450,544.18. This trade represents a 9.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 183,078 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the completion of the sale, the insider now owns 164,850 shares in the company, valued at $26,046,300. This represents a 52.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,270,894 shares of company stock worth $317,578,168. Company insiders own 27.83% of the company’s stock.

Airbnb Trading Down 3.9 %

ABNB stock opened at $120.69 on Friday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $166.74. The stock has a market capitalization of $76.10 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The firm’s fifty day simple moving average is $135.29 and its two-hundred day simple moving average is $133.71.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Friday, February 14th. Baird R W raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Evercore ISI increased their price target on Airbnb to $155.00 and gave the company a “hold” rating in a report on Wednesday, January 15th. Gordon Haskett raised Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price objective for the company in a report on Friday, February 14th. Finally, JMP Securities reissued a “market perform” rating on shares of Airbnb in a research report on Friday, February 14th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $147.36.

About Airbnb

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.