Commonwealth Equity Services LLC Has $7.12 Million Stock Holdings in Airbnb, Inc. $ABNB

Commonwealth Equity Services LLC decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,652 shares of the company’s stock after selling 8,450 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Airbnb were worth $7,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Airbnb by 0.5% in the second quarter. Vanguard Group Inc. now owns 37,645,965 shares of the company’s stock worth $4,982,067,000 after purchasing an additional 183,336 shares in the last quarter. Harris Associates L P boosted its stake in shares of Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after acquiring an additional 4,292,383 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Airbnb by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock worth $1,314,057,000 after acquiring an additional 145,788 shares in the last quarter. Norges Bank acquired a new position in shares of Airbnb during the 2nd quarter valued at about $483,644,000. Finally, Akre Capital Management LLC raised its stake in shares of Airbnb by 19.0% in the 2nd quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock valued at $459,649,000 after acquiring an additional 555,510 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $128.47, for a total value of $30,318,920.00. Following the completion of the transaction, the director owned 468,015 shares of the company’s stock, valued at $60,125,887.05. This represents a 33.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nathan Blecharczyk sold 141,063 shares of Airbnb stock in a transaction that occurred on Monday, December 8th. The stock was 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 $1,404,979.20. The trade was a 92.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,343,756 shares of company stock worth $165,409,819 over the last three months. Company insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, October 8th. UBS Group set a $130.00 price objective on shares of Airbnb in a report on Tuesday. Mizuho set a $156.00 target price on shares of Airbnb in a report on Friday, November 7th. Sanford C. Bernstein cut their target price on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Finally, Truist Financial raised their price target on Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a research report on Thursday, December 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-one have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $147.84.

Airbnb Price Performance

NASDAQ:ABNB opened at $140.07 on Wednesday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a fifty day moving average price of $127.16 and a 200 day moving average price of $127.73. The stock has a market cap of $86.22 billion, a P/E ratio of 33.27, a PEG ratio of 2.15 and a beta of 1.09.

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 company 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 business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 EPS. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current 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.