Cumberland Partners Ltd Reduces Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Cumberland Partners Ltd cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 23.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,040 shares of the company’s stock after selling 7,000 shares during the period. Cumberland Partners Ltd’s holdings in Airbnb were worth $3,028,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ABNB. Northwest Investment Counselors LLC purchased a new position in shares of Airbnb in the third quarter valued at $25,000. Golden State Wealth Management LLC purchased a new stake in Airbnb during the 4th quarter worth about $25,000. Hollencrest Capital Management boosted its stake in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Berbice Capital Management LLC purchased a new position in Airbnb during the 4th quarter valued at about $26,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Airbnb during the third quarter valued at about $30,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ABNB shares. JMP Securities restated a “market perform” rating on shares of Airbnb in a research report on Friday, February 14th. Morgan Stanley raised their price target on shares of Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Canaccord Genuity Group increased their price objective on Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. The Goldman Sachs Group raised Airbnb from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $110.00 to $153.00 in a research note on Friday, February 14th. Finally, Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Airbnb in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average target price of $147.00.

Airbnb Stock Performance

Airbnb stock opened at $157.83 on Thursday. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The firm has a market cap of $100.06 billion, a P/E ratio of 38.22, a P/E/G ratio of 2.38 and a beta of 1.12. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $134.80 and a 200-day moving average of $130.65.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Sell-side analysts expect that Airbnb, Inc. will post 4.27 EPS for the current year.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 183,078 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the sale, the insider now directly owns 164,850 shares in the company, valued at $26,046,300. This trade represents a 52.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $137.00, for a total value of $137,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 40,581 shares of the company’s stock, valued at $5,559,597. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,834,455 shares of company stock worth $256,987,686 over the last quarter. Corporate 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.