Allspring Global Investments Holdings LLC Has $48.96 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Posted by Defense World Staff on Jun 27th, 2023

Allspring Global Investments Holdings LLC grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB – Get Rating) by 33.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 393,541 shares of the company’s stock after purchasing an additional 99,537 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Airbnb were worth $48,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ABNB. American National Bank boosted its position in shares of Airbnb by 886.7% during the 4th quarter. American National Bank now owns 296 shares of the company’s stock worth $25,000 after acquiring an additional 266 shares in the last quarter. Level Financial Advisors Inc. boosted its position in shares of Airbnb by 100.0% during the 1st quarter. Level Financial Advisors Inc. now owns 200 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. RFP Financial Group LLC acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $34,000. Chelsea Counsel Co. acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $37,000. Finally, New Hampshire Trust acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 41.62% of the company’s stock.

Airbnb Trading Down 1.3 %

NASDAQ:ABNB opened at $123.13 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $78.74 billion, a price-to-earnings ratio of 40.91, a PEG ratio of 1.72 and a beta of 1.13. The firm has a fifty day simple moving average of $116.59 and a two-hundred day simple moving average of $111.94. Airbnb, Inc. has a 12 month low of $81.91 and a 12 month high of $144.63.

Airbnb (NASDAQ:ABNB – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Airbnb had a net margin of 23.30% and a return on equity of 37.51%. The business’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. Analysts expect that Airbnb, Inc. will post 3.51 EPS for the current fiscal year.

Insider Activity

In other news, CEO Brian Chesky sold 30,000 shares of Airbnb stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $111.97, for a total transaction of $3,359,100.00. Following the completion of the transaction, the chief executive officer now directly owns 17,363,931 shares in the company, valued at $1,944,239,354.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Joseph Gebbia sold 350,000 shares of the firm’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $121.49, for a total transaction of $42,521,500.00. Following the transaction, the director now directly owns 6,108,435 shares of the company’s stock, valued at $742,113,768.15. 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 30,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $111.97, for a total transaction of $3,359,100.00. Following the transaction, the chief executive officer now directly owns 17,363,931 shares in the company, valued at $1,944,239,354.07. The disclosure for this sale can be found here. Insiders sold 1,985,643 shares of company stock worth $231,650,962 over the last three months. 30.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several analyst reports. Phillip Securities upgraded shares of Airbnb from an “accumulate” rating to a “buy” rating in a research report on Wednesday, May 17th. Wedbush initiated coverage on shares of Airbnb in a research report on Monday, June 5th. They set a “neutral” rating and a $130.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Airbnb in a research note on Wednesday, June 7th. They issued an “underweight” rating and a $99.00 price objective for the company. Royal Bank of Canada dropped their price objective on shares of Airbnb from $135.00 to $105.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 10th. Finally, TD Cowen dropped their price objective on shares of Airbnb from $145.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, May 10th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $133.73.

Airbnb Profile

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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.