E Fund Management Co. Ltd. Reduces Position in Airbnb, Inc. (NASDAQ:ABNB)

E Fund Management Co. Ltd. lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,354 shares of the company’s stock after selling 334 shares during the period. E Fund Management Co. Ltd.’s holdings in Airbnb were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ABNB. Vanguard Group Inc. boosted its position in shares of Airbnb by 43.0% during the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock worth $4,697,896,000 after buying an additional 10,301,746 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Airbnb during the 3rd quarter valued at about $235,338,000. Northern Trust Corp grew its position in Airbnb by 41.3% in the 3rd quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock valued at $598,745,000 after acquiring an additional 1,276,456 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Airbnb by 69.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,301,395 shares of the company’s stock worth $315,774,000 after purchasing an additional 943,520 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its position in shares of Airbnb by 48.3% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after purchasing an additional 813,074 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

Shares of ABNB traded down $1.91 during trading hours on Wednesday, reaching $157.90. The company had a trading volume of 8,149,526 shares, compared to its average volume of 4,467,498. The firm has a 50 day simple moving average of $161.59 and a 200-day simple moving average of $145.41. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $102.17 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.12 and a beta of 1.24. Airbnb, Inc. has a 12-month low of $103.55 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.16 billion. Research analysts expect that Airbnb, Inc. will post 4.47 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 78,682 shares of Airbnb stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the completion of the sale, the chief technology officer now directly owns 144,331 shares in the company, valued at $24,435,238.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Aristotle N. Balogh sold 78,682 shares of Airbnb stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the completion of the sale, the chief technology officer now directly owns 144,331 shares in the company, valued at $24,435,238.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 76,912 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $147.79, for a total transaction of $11,366,824.48. Following the completion of the sale, the chief executive officer now directly owns 14,545,529 shares in the company, valued at $2,149,683,730.91. The disclosure for this sale can be found here. In the last three months, insiders sold 396,874 shares of company stock worth $63,712,671. 27.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABNB has been the topic of several recent research reports. Truist Financial upped their target price on shares of Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. Barclays increased their price target on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, January 29th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research report on Thursday, April 11th. Royal Bank of Canada lifted their price target on shares of Airbnb from $140.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Finally, UBS Group dropped their price objective on shares of Airbnb from $148.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and an average target price of $149.19.

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.