Cwm LLC Acquires 83,100 Shares of Airbnb, Inc. $ABNB

Cwm LLC boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 156.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,363 shares of the company’s stock after buying an additional 83,100 shares during the period. Cwm LLC’s holdings in Airbnb were worth $16,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. DDD Partners LLC boosted its holdings in shares of Airbnb by 3.9% in the second quarter. DDD Partners LLC now owns 2,041 shares of the company’s stock worth $270,000 after acquiring an additional 76 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Airbnb by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock worth $604,000 after purchasing an additional 78 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in Airbnb by 70.9% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after purchasing an additional 83 shares during the period. SBI Securities Co. Ltd. grew its holdings in Airbnb by 0.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 10,552 shares of the company’s stock valued at $1,396,000 after buying an additional 85 shares in the last quarter. Finally, Brookstone Capital Management increased its position in shares of Airbnb by 4.0% during the third quarter. Brookstone Capital Management now owns 2,350 shares of the company’s stock valued at $285,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $136.82 on Friday. The firm has a market capitalization of $84.22 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 2.41 and a beta of 1.11. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The firm has a fifty day moving average of $124.73 and a 200 day moving average of $127.50.

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 return on equity of 32.14% and a net margin of 22.03%.The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the firm earned $2.13 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 36,370 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $123.24, for a total value of $4,482,238.80. Following the completion of the sale, the insider directly owned 11,520 shares in the company, valued at approximately $1,419,724.80. The trade was a 75.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $130.56, for a total transaction of $7,572,480.00. Following the completion of the sale, the director directly owned 634,015 shares of the company’s stock, valued at $82,776,998.40. This trade represents a 8.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,754,606 shares of company stock worth $214,342,160 over the last ninety days. Corporate insiders own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABNB. KeyCorp started coverage on shares of Airbnb in a research report on Thursday, October 23rd. They issued a “sector weight” rating for the company. DA Davidson reissued a “buy” rating and issued a $155.00 price target on shares of Airbnb in a report on Friday, December 5th. Jefferies Financial Group upped their price target on shares of Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Royal Bank Of Canada upgraded Airbnb from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $145.00 to $170.00 in a research report on Wednesday, December 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $144.48.

About Airbnb

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.