Nordea Investment Management AB Decreases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Nordea Investment Management AB lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 73.4% during the fourth quarter, HoldingsChannel reports. The fund owned 325,859 shares of the company’s stock after selling 897,728 shares during the period. Nordea Investment Management AB’s holdings in Airbnb were worth $43,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares in the last quarter. Meritage Group LP purchased a new position in shares of Airbnb in the 3rd quarter valued at $160,985,000. Edgewood Management LLC grew its position in shares of Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares during the last quarter. International Assets Investment Management LLC raised its stake in Airbnb by 19,430.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after acquiring an additional 1,113,747 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its position in Airbnb by 91.3% in the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock valued at $294,726,000 after acquiring an additional 1,109,076 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Down 2.9 %

Shares of NASDAQ ABNB opened at $131.29 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The firm’s 50-day moving average is $135.31 and its two-hundred day moving average is $132.96. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a market capitalization of $83.23 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the business posted $2.39 EPS. Equities analysts anticipate that Airbnb, Inc. will post 3.99 EPS for the current fiscal year.

Insider Activity at Airbnb

In related news, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the transaction, the chief accounting officer now directly owns 40,581 shares in the company, valued at approximately $5,559,597. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the sale, the insider now owns 164,850 shares of the company’s stock, valued at $21,466,767. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 695,361 shares of company stock valued at $92,728,581. 27.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABNB. Barclays lifted their target price on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Bank of America boosted their price objective on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Raymond James began coverage on shares of Airbnb in a research report on Friday, September 27th. They set a “market perform” rating and a $134.00 target price on the stock. Sanford C. Bernstein decreased their price target on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Finally, Phillip Securities reissued a “reduce” rating and set a $120.00 price objective on shares of Airbnb in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.48.

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.