Cumberland Partners Ltd Sells 7,000 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Cumberland Partners Ltd decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 23.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,040 shares of the company’s stock after selling 7,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Airbnb were worth $3,028,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Ieq Capital LLC lifted its stake in shares of Airbnb by 103.1% in the fourth quarter. Ieq Capital LLC now owns 188,289 shares of the company’s stock worth $24,743,000 after buying an additional 95,559 shares in the last quarter. Bryn Mawr Capital Management LLC raised its holdings in Airbnb by 73.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 12,630 shares of the company’s stock worth $1,660,000 after acquiring an additional 5,356 shares during the last quarter. Laidlaw Wealth Management LLC lifted its position in Airbnb by 14.6% in the 4th quarter. Laidlaw Wealth Management LLC now owns 7,279 shares of the company’s stock valued at $957,000 after acquiring an additional 929 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Airbnb by 19.8% during the 4th quarter. Global Retirement Partners LLC now owns 2,128 shares of the company’s stock valued at $280,000 after purchasing an additional 351 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Airbnb in the 4th quarter worth $59,000. 80.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ABNB shares. Wedbush reaffirmed an “outperform” rating and set a $155.00 price target on shares of Airbnb in a report on Tuesday, February 4th. B. Riley raised their price target on shares of Airbnb from $131.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Baird R W raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. DA Davidson raised their target price on shares of Airbnb from $131.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $110.00 to $153.00 in a research report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus price target of $147.00.

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 76,923 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total transaction of $10,764,604.62. Following the completion of the transaction, the chief executive officer now directly owns 12,616,300 shares in the company, valued at approximately $1,765,525,022. This represents a 0.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the sale, the chief technology officer now owns 185,414 shares in the company, valued at $25,218,158.14. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,834,455 shares of company stock valued at $256,987,686. 27.83% of the stock is currently owned by insiders.

Airbnb Trading Down 1.7 %

ABNB stock opened at $157.83 on Thursday. The company has a market capitalization of $100.06 billion, a price-to-earnings ratio of 38.22, a PEG ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The business has a 50 day simple moving average of $134.80 and a two-hundred day simple moving average of $130.65.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Research analysts anticipate that Airbnb, Inc. will post 4.27 EPS for the current fiscal year.

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.