Sumitomo Life Insurance Co. Sells 156 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Posted by on Mar 26th, 2023

Sumitomo Life Insurance Co. lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB – Get Rating) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,025 shares of the company’s stock after selling 156 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Airbnb were worth $1,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Independent Advisor Alliance increased its holdings in Airbnb by 16.4% in the 3rd quarter. Independent Advisor Alliance now owns 7,905 shares of the company’s stock valued at $830,000 after buying an additional 1,113 shares during the period. Nordea Investment Management AB increased its holdings in Airbnb by 23.9% in the 2nd quarter. Nordea Investment Management AB now owns 20,698 shares of the company’s stock valued at $1,820,000 after buying an additional 3,996 shares during the period. Bessemer Group Inc. increased its holdings in Airbnb by 4.4% in the 3rd quarter. Bessemer Group Inc. now owns 188,087 shares of the company’s stock valued at $19,756,000 after buying an additional 7,905 shares during the period. Quantbot Technologies LP bought a new stake in Airbnb in the 2nd quarter valued at $988,000. Finally, Whittier Trust Co. boosted its stake in shares of Airbnb by 3.9% in the 3rd quarter. Whittier Trust Co. now owns 115,906 shares of the company’s stock valued at $12,174,000 after purchasing an additional 4,335 shares in the last quarter. Institutional investors own 39.02% of the company’s stock.

Analyst Ratings Changes

ABNB has been the topic of several recent analyst reports. Gordon Haskett downgraded shares of Airbnb from a “hold” rating to an “underperform” rating in a research note on Wednesday, January 25th. TheStreet upgraded shares of Airbnb from a “d+” rating to a “c” rating in a research note on Wednesday, February 15th. Cowen boosted their target price on shares of Airbnb from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. DA Davidson upped their price target on shares of Airbnb from $132.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 15th. Finally, Piper Sandler upped their price target on shares of Airbnb from $110.00 to $131.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus price target of $140.52.

Insider Buying and Selling

In related news, CFO Dave Stephenson sold 1,057 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $123.89, for a total transaction of $130,951.73. Following the completion of the sale, the chief financial officer now directly owns 133,893 shares of the company’s stock, valued at approximately $16,588,003.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Dave Stephenson sold 1,057 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $123.89, for a total transaction of $130,951.73. Following the completion of the sale, the chief financial officer now directly owns 133,893 shares of the company’s stock, valued at approximately $16,588,003.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Belinda J. Johnson sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $120.00, for a total value of $240,000.00. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $710,400. The disclosure for this sale can be found here. In the last three months, insiders sold 2,069,920 shares of company stock valued at $257,178,841. 32.69% of the stock is owned by corporate insiders.

Airbnb Stock Performance

Shares of ABNB stock opened at $116.92 on Friday. The stock has a 50-day moving average of $117.80 and a 200-day moving average of $107.72. Airbnb, Inc. has a one year low of $81.91 and a one year high of $179.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.86 and a quick ratio of 1.86. The stock has a market cap of $74.89 billion, a PE ratio of 41.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.15.

Airbnb (NASDAQ:ABNB – Get Rating) last posted its earnings results on Tuesday, February 14th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.21. Airbnb had a return on equity of 35.92% and a net margin of 22.54%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned $0.08 EPS. Airbnb’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, sell-side analysts expect that Airbnb, Inc. will post 3.38 earnings per share for the current year.

About Airbnb

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Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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