Newbridge Financial Services Group Inc. Has $584,000 Stake in Airbnb, Inc. (NASDAQ:ABNB)

Newbridge Financial Services Group Inc. trimmed its stake in Airbnb, Inc. (NASDAQ:ABNBFree Report) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,292 shares of the company’s stock after selling 173 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Airbnb were worth $584,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Airbnb by 43.0% in the 3rd 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 in the last quarter. Edgewood Management LLC boosted its position in Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after purchasing an additional 2,135,529 shares during the last quarter. Norges Bank acquired a new stake in Airbnb during the fourth quarter valued at $619,584,000. Northern Trust Corp grew its stake in Airbnb by 41.3% in the third quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock valued at $598,745,000 after purchasing an additional 1,276,456 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Airbnb by 5.0% in the 3rd quarter. Legal & General Group Plc now owns 2,568,807 shares of the company’s stock worth $352,466,000 after purchasing an additional 121,651 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on ABNB. Bank of America boosted their price target on Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Wedbush raised shares of Airbnb from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $160.00 to $165.00 in a research report on Tuesday, May 28th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a report on Thursday, May 9th. Truist Financial upped their price objective on shares of Airbnb from $131.00 to $134.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, Citigroup lowered their target price on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $152.38.

Read Our Latest Report on Airbnb

Airbnb Price Performance

NASDAQ ABNB traded down $0.35 on Tuesday, reaching $149.15. The company’s stock had a trading volume of 723,111 shares, compared to its average volume of 4,405,146. Airbnb, Inc. has a 52 week low of $113.24 and a 52 week high of $170.10. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. The firm has a market cap of $96.06 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.18. The business has a 50-day moving average price of $152.21 and a 200 day moving average price of $150.33.

Airbnb (NASDAQ:ABNBGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.18. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.67 EPS for the current year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 44,990 shares of Airbnb stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the transaction, the director now directly owns 46,467 shares of the company’s stock, valued at approximately $6,971,908.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Airbnb news, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the sale, the director now directly owns 46,467 shares of the company’s stock, valued at $6,971,908.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 78,682 shares of Airbnb stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 144,331 shares of the company’s stock, valued at approximately $24,435,238.30. The disclosure for this sale can be found here. Insiders sold 388,612 shares of company stock worth $59,476,075 over the last three months. 27.83% of the stock is currently owned by corporate insiders.

About Airbnb

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ABNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Airbnb, Inc. (NASDAQ:ABNBFree Report).

Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

Receive News & Ratings for Airbnb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Airbnb and related companies with MarketBeat.com's FREE daily email newsletter.