Cambridge Investment Research Advisors Inc. Sells 4,908 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Cambridge Investment Research Advisors Inc. trimmed its stake in Airbnb, Inc. (NASDAQ:ABNB) by 14.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,263 shares of the company’s stock after selling 4,908 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Airbnb were worth $3,615,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ABNB. Geode Capital Management LLC lifted its holdings in shares of Airbnb by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock valued at $1,244,514,000 after purchasing an additional 72,991 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Airbnb by 8.4% during the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company’s stock valued at $564,647,000 after purchasing an additional 331,607 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Airbnb by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock valued at $548,683,000 after purchasing an additional 558,856 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Airbnb during the fourth quarter valued at $433,374,000. 80.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABNB. B. Riley lowered their price target on Airbnb from $145.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Susquehanna lowered their price target on Airbnb from $200.00 to $150.00 and set a “positive” rating on the stock in a report on Monday, May 5th. Cantor Fitzgerald reiterated an “underweight” rating and set a $100.00 price objective on shares of Airbnb in a research report on Wednesday, May 14th. DA Davidson upgraded Airbnb from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $170.00 to $155.00 in a research report on Wednesday, April 30th. Finally, Benchmark reduced their price objective on Airbnb from $178.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.23.

Airbnb Trading Up 0.6%

NASDAQ:ABNB opened at $134.52 on Friday. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The stock has a 50-day moving average price of $130.00 and a 200 day moving average price of $130.39. The stock has a market capitalization of $84.26 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the company posted $0.41 earnings per share. Airbnb’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CEO Brian Chesky sold 38,459 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $120.44, for a total transaction of $4,632,001.96. Following the completion of the transaction, the chief executive officer now directly owns 11,731,685 shares of the company’s stock, valued at approximately $1,412,964,141.40. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $139.40, for a total value of $32,898,400.00. Following the completion of the transaction, the director now owns 1,180,015 shares of the company’s stock, valued at approximately $164,494,091. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,646,087 shares of company stock valued at $206,326,144. Insiders own 27.91% 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.