Airbnb, Inc. $ABNB Shares Sold by Cerity Partners LLC

Cerity Partners LLC reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 308,986 shares of the company’s stock after selling 16,037 shares during the period. Cerity Partners LLC’s holdings in Airbnb were worth $40,891,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Harris Associates L P boosted its holdings in Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after buying an additional 4,598,125 shares in the last quarter. Norges Bank purchased a new position in Airbnb in the second quarter valued at about $483,644,000. AQR Capital Management LLC lifted its position in shares of Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after acquiring an additional 1,916,676 shares during the period. Amundi boosted its stake in shares of Airbnb by 112.3% during the 2nd quarter. Amundi now owns 2,670,251 shares of the company’s stock worth $361,525,000 after acquiring an additional 1,412,608 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Airbnb in the 2nd quarter worth approximately $170,189,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 549 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $116.04, for a total transaction of $63,705.96. Following the completion of the transaction, the chief technology officer owned 187,686 shares of the company’s stock, valued at $21,779,083.44. This represents a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $118.47, for a total transaction of $6,871,260.00. Following the transaction, the director owned 692,015 shares in the company, valued at approximately $81,983,017.05. The trade was a 7.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,575,867 shares of company stock worth $190,875,764 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABNB. Mizuho set a $156.00 price objective on Airbnb in a report on Friday, November 7th. BNP Paribas Exane initiated coverage on Airbnb in a research report on Monday, November 24th. They issued a “neutral” rating for the company. Barclays lifted their price target on Airbnb from $105.00 to $107.00 and gave the stock an “underweight” rating in a research note on Friday, November 7th. Jefferies Financial Group boosted their price objective on shares of Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday. Finally, BNP Paribas began coverage on shares of Airbnb in a report on Monday, November 24th. They set a “hold” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus target price of $143.88.

Airbnb Stock Performance

Shares of ABNB opened at $124.32 on Monday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The company has a market capitalization of $76.53 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11. The stock has a fifty day moving average of $121.53 and a two-hundred day moving average of $127.45.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.10). The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.08 billion. Airbnb had a return on equity of 32.14% and a net margin of 22.03%.Airbnb’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.13 EPS. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.