Cerity Partners LLC Purchases 33,509 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Cerity Partners LLC lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 24.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 168,114 shares of the company’s stock after acquiring an additional 33,509 shares during the period. Cerity Partners LLC’s holdings in Airbnb were worth $21,319,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABNB. Connor Clark & Lunn Investment Management Ltd. bought a new position in Airbnb in the third quarter worth $34,982,000. J.W. Cole Advisors Inc. increased its stake in shares of Airbnb by 86.5% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after acquiring an additional 2,132 shares in the last quarter. Shellback Capital LP purchased a new position in Airbnb during the 2nd quarter valued at about $22,744,000. Bradley Foster & Sargent Inc. CT lifted its position in Airbnb by 1,231.3% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock valued at $3,145,000 after acquiring an additional 19,183 shares during the period. Finally, Plato Investment Management Ltd boosted its stake in Airbnb by 2.7% during the second quarter. Plato Investment Management Ltd now owns 13,493 shares of the company’s stock worth $2,046,000 after acquiring an additional 358 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the sale, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. This trade represents a 95.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $72,000.00. Following the completion of the transaction, the chief technology officer now directly owns 195,844 shares in the company, valued at $23,501,280. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 641,094 shares of company stock worth $81,077,447. 27.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ABNB has been the subject of several recent research reports. Wedbush lifted their target price on shares of Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a report on Monday, October 7th. Argus cut Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Robert W. Baird lifted their price target on Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently 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. The company has a market cap of $87.07 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 1.89 and a beta of 1.15. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $132.73 and a 200 day moving average price of $135.54.

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

Airbnb Company 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.