Cerity Partners LLC Purchases 55,838 Shares of Airbnb, Inc. $ABNB

Cerity Partners LLC increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 18.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 364,824 shares of the company’s stock after purchasing an additional 55,838 shares during the quarter. Cerity Partners LLC’s holdings in Airbnb were worth $44,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Kentucky Trust Co bought a new position in Airbnb during the 2nd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Airbnb by 70.9% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Airbnb in the second quarter valued at about $28,000. Whipplewood Advisors LLC increased its position in Airbnb by 235.3% during the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after acquiring an additional 160 shares during the period. Finally, Armstrong Advisory Group Inc. raised its stake in Airbnb by 363.6% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of analyst reports. Truist Financial increased their target price on shares of Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a research report on Thursday, December 4th. Barclays increased their price target on Airbnb from $105.00 to $107.00 and gave the stock an “underweight” rating in a research report on Friday, November 7th. Mizuho set a $156.00 price objective on Airbnb in a report on Friday, November 7th. Jefferies Financial Group upped their target price on Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Finally, BTIG Research restated a “neutral” rating on shares of Airbnb in a research report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $144.36.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 141,063 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $121.96, for a total value of $17,204,043.48. Following the sale, the insider directly owned 11,520 shares in the company, valued at approximately $1,404,979.20. This trade represents a 92.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $120.66, for a total transaction of $28,475,760.00. Following the sale, the director directly owned 232,015 shares in the company, valued at $27,994,929.90. This trade represents a 50.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,579,756 shares of company stock worth $193,545,739 over the last 90 days. Insiders own 27.91% of the company’s stock.

Airbnb Price Performance

Shares of ABNB opened at $137.04 on Thursday. The firm has a 50 day simple moving average of $126.07 and a two-hundred day simple moving average of $127.57. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a market cap of $84.35 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.14 and a beta of 1.09.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results 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). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the business posted $2.13 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Airbnb Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.