OVERSEA CHINESE BANKING Corp Ltd Purchases 16,086 Shares of Airbnb, Inc. (NASDAQ:ABNB)

OVERSEA CHINESE BANKING Corp Ltd increased its position in Airbnb, Inc. (NASDAQ:ABNB) by 63.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Verde Capital Management grew its stake in Airbnb by 25.3% in the fourth quarter. Verde Capital Management now owns 21,118 shares of the company’s stock worth $2,775,000 after purchasing an additional 4,269 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Airbnb during the third quarter worth $34,982,000. Tri Ri Asset Management Corp purchased a new stake in Airbnb during the third quarter worth $6,352,000. Baltimore Washington Financial Advisors Inc. lifted its holdings in Airbnb by 14.8% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 49,447 shares of the company’s stock worth $6,498,000 after buying an additional 6,357 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Airbnb by 40.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock worth $90,123,000 after buying an additional 197,558 shares during the period. Institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABNB. The Goldman Sachs Group upgraded Airbnb from a “sell” rating to a “neutral” rating and upped their target price for the stock from $110.00 to $153.00 in a report on Friday, February 14th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a report on Friday, February 14th. Tigress Financial upped their target price on Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Wedbush reiterated an “outperform” rating and set a $155.00 price objective on shares of Airbnb in a report on Tuesday, February 4th. Finally, Benchmark raised their price objective on Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Airbnb currently has an average rating of “Hold” and an average target price of $148.15.

Airbnb Trading Down 1.9 %

ABNB opened at $124.56 on Wednesday. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The stock has a market capitalization of $78.54 billion, a PE ratio of 30.16, a P/E/G ratio of 3.52 and a beta of 1.10. The business’s 50 day moving average price is $135.93 and its 200 day moving average price is $133.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69.

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

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $130.18, for a total transaction of $91,126.00. Following the transaction, the chief technology officer now directly owns 172,119 shares in the company, valued at $22,406,451.42. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Chesky sold 230,772 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $161.16, for a total value of $37,191,215.52. Following the transaction, the chief executive officer now owns 12,000,913 shares in the company, valued at $1,934,067,139.08. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,055,209 shares of company stock worth $289,943,548 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

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.