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

Cerity Partners LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 18.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 364,824 shares of the company’s stock after acquiring an additional 55,838 shares during the period. Cerity Partners LLC owned approximately 0.06% of Airbnb worth $44,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABNB. Kentucky Trust Co bought a new position in Airbnb during the 2nd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after buying an additional 83 shares during the period. Concord Wealth Partners bought a new position in shares of Airbnb during the second quarter worth about $28,000. Whipplewood Advisors LLC raised its position in Airbnb by 235.3% in the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after buying an additional 160 shares during the last quarter. Finally, Armstrong Advisory Group Inc. lifted its stake in Airbnb by 363.6% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

Shares of ABNB stock opened at $137.04 on Thursday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The stock has a market cap of $84.35 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.14 and a beta of 1.09. The firm’s 50-day moving average is $126.07 and its 200-day moving average is $127.57.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.13 EPS. Sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABNB. Royal Bank Of Canada raised shares of Airbnb from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $145.00 to $170.00 in a research note on Wednesday, December 17th. Jefferies Financial Group lifted their price target on shares of Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Wedbush increased their price objective on shares of Airbnb from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Sanford C. Bernstein lowered their target price on Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Truist Financial upped their target price on Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a report on Thursday, December 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $144.36.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 36,370 shares of the stock in a transaction dated 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 transaction, the insider directly owned 11,520 shares of the company’s stock, valued at $1,419,724.80. This represents a 75.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Chesky sold 51,230 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the sale, the chief executive officer owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. This represents a 52.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,579,756 shares of company stock worth $193,545,739. 27.91% of the stock is currently owned by corporate insiders.

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.