Cerity Partners LLC Boosts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Cerity Partners LLC lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 24.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,114 shares of the company’s stock after purchasing an additional 33,509 shares during the quarter. Cerity Partners LLC’s holdings in Airbnb were worth $21,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Edgewood Management LLC raised its position in Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after buying an additional 1,143,464 shares during the last quarter. Pacer Advisors Inc. lifted its position in Airbnb by 6,085.6% during the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares during the period. Legal & General Group Plc boosted its holdings in Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after purchasing an additional 153,784 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Airbnb by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after purchasing an additional 52,358 shares during the period. Finally, MKA Charitable Fund raised its stake in shares of Airbnb by 17.2% during the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock valued at $255,632,000 after buying an additional 296,153 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Mizuho lowered their target price on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Citigroup upped their price objective on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets cut their target price on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Argus downgraded shares of Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Benchmark restated a “buy” rating and set a $155.00 price target on shares of Airbnb in a research report on Friday, November 8th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average price target of $138.97.

Airbnb Stock Up 3.1 %

Shares of NASDAQ:ABNB opened at $137.34 on Monday. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The stock has a market cap of $87.07 billion, a P/E ratio of 48.19, a PEG ratio of 1.89 and a beta of 1.15. The business has a fifty day moving average of $132.73 and a two-hundred day moving average of $135.54. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company posted $2.39 EPS. On average, research analysts expect that Airbnb, Inc. will post 4.02 earnings per share for the current year.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now owns 164,850 shares in the company, valued at approximately $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 641,094 shares of company stock worth $81,077,447 in the last 90 days. Insiders own 27.83% of the company’s stock.

About Airbnb

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.