ICICI Prudential Asset Management Co Ltd Cuts Position in Airbnb, Inc. (NASDAQ:ABNB)

ICICI Prudential Asset Management Co Ltd decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,637 shares of the company’s stock after selling 107 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Airbnb were worth $741,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in Airbnb in the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Airbnb in the third quarter valued at approximately $25,000. Berbice Capital Management LLC purchased a new position in Airbnb in the fourth quarter valued at approximately $26,000. Hollencrest Capital Management raised its holdings in Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in Airbnb in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

ABNB stock opened at $160.60 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market capitalization of $101.82 billion, a price-to-earnings ratio of 56.35, a PEG ratio of 1.88 and a beta of 1.12. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The stock’s fifty day moving average is $134.42 and its two-hundred day moving average is $130.45.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. On average, research analysts predict that Airbnb, Inc. will post 3.97 EPS for the current year.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $131.88, for a total value of $28,259,905.80. Following the sale, the director now directly owns 1,285,715 shares in the company, valued at approximately $169,560,094.20. The trade was a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the sale, the chief technology officer now owns 185,414 shares in the company, valued at approximately $25,218,158.14. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,384,117 shares of company stock worth $185,055,042 over the last ninety days. 27.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABNB has been the topic of several research reports. Wedbush restated an “outperform” rating and issued a $155.00 price target on shares of Airbnb in a report on Tuesday, February 4th. DA Davidson increased their price objective on shares of Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and increased their price objective for the company from $110.00 to $153.00 in a research report on Friday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a research report on Friday, February 14th. Finally, 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 report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Airbnb currently has an average rating of “Hold” and an average target price of $147.00.

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.