Principal Financial Group Inc. Has $86.30 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Principal Financial Group Inc. grew its position in Airbnb, Inc. (NASDAQ:ABNB) by 17.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 680,539 shares of the company’s stock after buying an additional 103,087 shares during the period. Principal Financial Group Inc. owned 0.11% of Airbnb worth $86,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABNB. Transcendent Capital Group LLC acquired a new stake in shares of Airbnb during the first quarter worth $25,000. New Millennium Group LLC acquired a new stake in shares of Airbnb during the second quarter worth $28,000. Heritage Wealth Advisors grew its stake in shares of Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 71 shares during the period. Pathway Financial Advisers LLC acquired a new stake in shares of Airbnb during the first quarter worth $33,000. Finally, Cultivar Capital Inc. acquired a new stake in shares of Airbnb during the second quarter worth $30,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ABNB shares. The Goldman Sachs Group decreased their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. TD Cowen boosted their price target on Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald restated an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a report on Monday, October 7th. Susquehanna lowered their target price on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley lowered their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $139.26.

Airbnb Stock Performance

ABNB stock opened at $134.61 on Friday. The stock has a 50-day moving average price of $129.14 and a 200-day moving average price of $137.56. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market cap of $86.37 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 42,719 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 42,719 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 417,806 shares of company stock valued at $51,809,831. Corporate insiders own 27.83% of the company’s stock.

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.