Cetera Investment Advisers Purchases 7,949 Shares of Airbnb, Inc. $ABNB

Cetera Investment Advisers raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,123 shares of the company’s stock after acquiring an additional 7,949 shares during the quarter. Cetera Investment Advisers’ holdings in Airbnb were worth $18,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ABNB. Merit Financial Group LLC boosted its holdings in shares of Airbnb by 72.1% during the 4th quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock valued at $4,478,000 after purchasing an additional 13,818 shares during the last quarter. North Dakota State Investment Board bought a new stake in shares of Airbnb in the fourth quarter worth about $2,785,000. North Star Asset Management Inc. increased its holdings in shares of Airbnb by 13.4% in the fourth quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock worth $10,663,000 after purchasing an additional 9,294 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Airbnb by 18.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,291 shares of the company’s stock worth $30,305,000 after buying an additional 34,573 shares in the last quarter. Finally, Oxbow Advisors LLC lifted its position in shares of Airbnb by 122.9% in the fourth quarter. Oxbow Advisors LLC now owns 50,414 shares of the company’s stock worth $6,842,000 after buying an additional 27,793 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction on Monday, July 6th. The shares were sold at an average price of $148.37, for a total transaction of $2,020,057.55. Following the completion of the sale, the insider directly owned 81,677 shares in the company, valued at approximately $12,118,416.49. The trade was a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of Airbnb stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total value of $555,037.50. Following the sale, the chief financial officer directly owned 445,290 shares of the company’s stock, valued at approximately $65,907,372.90. This represents a 0.84% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,231,864 shares of company stock valued at $308,474,278. 27.21% of the stock is owned by corporate insiders.

Airbnb Trading Up 4.1%

ABNB opened at $146.86 on Tuesday. The stock’s fifty day moving average is $140.10 and its two-hundred day moving average is $134.68. The company has a market capitalization of $88.51 billion, a P/E ratio of 36.17, a PEG ratio of 1.51 and a beta of 1.14. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.88. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. Analysts forecast that Airbnb, Inc. will post 4.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ABNB shares. Oppenheimer upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research report on Monday, May 4th. The Goldman Sachs Group set a $155.00 price target on shares of Airbnb in a research note on Monday, July 20th. UBS Group increased their price objective on shares of Airbnb from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Wells Fargo & Company boosted their target price on shares of Airbnb from $178.00 to $181.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Wedbush assumed coverage on shares of Airbnb in a research report on Thursday, July 16th. They set a “neutral” rating and a $152.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Airbnb has an average rating of “Moderate Buy” and a consensus price target of $159.65.

Airbnb Company 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.