OVERSEA CHINESE BANKING Corp Ltd Boosts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 63.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,487 shares of the company’s stock after purchasing an additional 16,086 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Airbnb were worth $5,462,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its stake in shares of Airbnb by 6.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,223 shares of the company’s stock worth $282,000 after buying an additional 142 shares during the period. Quest Partners LLC lifted its position in Airbnb by 3,643.9% in the third quarter. Quest Partners LLC now owns 2,134 shares of the company’s stock valued at $271,000 after purchasing an additional 2,077 shares during the period. MKA Charitable Fund increased its holdings in Airbnb by 17.2% in the third quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock valued at $255,632,000 after buying an additional 296,153 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Airbnb by 9.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 4,013 shares of the company’s stock valued at $509,000 after buying an additional 345 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Airbnb in the third quarter valued at about $4,587,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a report on Thursday, January 16th. Gordon Haskett raised shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price objective for the company in a research note on Friday, February 14th. Bank of America raised their price objective on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. HSBC raised shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Wedbush reissued an “outperform” rating and set a $155.00 price objective on shares of Airbnb in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $148.15.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $161.05, for a total value of $112,735.00. Following the transaction, the chief technology officer now owns 180,514 shares in the company, valued at $29,071,779.70. The trade was a 0.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 38,461 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $133.58, for a total transaction of $5,137,620.38. Following the completion of the transaction, the chief executive officer now owns 12,537,369 shares in the company, valued at $1,674,741,751.02. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,055,209 shares of company stock worth $289,943,548 in the last quarter. 27.83% of the stock is owned by corporate insiders.

Airbnb Stock Performance

NASDAQ:ABNB opened at $124.56 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $78.54 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.52 and a beta of 1.10. The firm’s fifty day simple moving average is $135.93 and its 200 day simple moving average is $133.20. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating 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, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.