PNC Financial Services Group Inc. Has $10.68 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

PNC Financial Services Group Inc. raised its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 103.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,413 shares of the company’s stock after buying an additional 39,924 shares during the period. PNC Financial Services Group Inc.’s holdings in Airbnb were worth $10,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABNB. Dynamic Technology Lab Private Ltd bought a new stake in Airbnb during the fourth quarter worth about $1,839,000. Norges Bank acquired a new stake in shares of Airbnb in the 4th quarter valued at approximately $619,584,000. ING Groep NV grew its stake in shares of Airbnb by 241.8% in the fourth quarter. ING Groep NV now owns 9,563 shares of the company’s stock valued at $1,302,000 after buying an additional 6,765 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Airbnb by 2.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 15,488 shares of the company’s stock worth $2,109,000 after buying an additional 347 shares during the last quarter. Finally, Kentucky Retirement Systems raised its position in Airbnb by 2.6% during the fourth quarter. Kentucky Retirement Systems now owns 34,784 shares of the company’s stock worth $4,735,000 after acquiring an additional 871 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Performance

Shares of Airbnb stock opened at $142.71 on Thursday. The stock has a market cap of $91.91 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.80 and a beta of 1.24. Airbnb, Inc. has a twelve month low of $103.74 and a twelve month high of $170.10. The company’s fifty day moving average is $158.48 and its 200 day moving average is $147.44. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The firm 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 business’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. Sell-side analysts forecast that Airbnb, Inc. will post 4.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays upped their price objective on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday, January 29th. BMO Capital Markets raised their price target on Airbnb from $135.00 to $151.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. B. Riley Financial initiated coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $155.00 target price (up previously from $145.00) on shares of Airbnb in a report on Thursday, May 9th. Finally, Piper Sandler Companies increased their price target on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $152.13.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $145.71, for a total value of $87,426.00. Following the sale, the chief technology officer now directly owns 212,374 shares of the company’s stock, valued at approximately $30,945,015.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $145.71, for a total transaction of $87,426.00. Following the sale, the chief technology officer now owns 212,374 shares in the company, valued at approximately $30,945,015.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 75,500 shares of Airbnb stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total value of $11,725,905.00. Following the completion of the sale, the chief technology officer now owns 146,131 shares of the company’s stock, valued at $22,695,605.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,324 shares of company stock worth $51,386,281. 27.83% of the stock is currently owned by insiders.

Airbnb Profile

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.