Commonwealth Equity Services LLC Has $6.23 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Commonwealth Equity Services LLC lowered its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB – Get Rating) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,827 shares of the company’s stock after selling 8,821 shares during the period. Commonwealth Equity Services LLC’s holdings in Airbnb were worth $6,226,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABNB. Vanguard Group Inc. grew its stake in Airbnb by 10.2% in the third quarter. Vanguard Group Inc. now owns 22,260,539 shares of the company’s stock valued at $2,338,247,000 after acquiring an additional 2,062,575 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Airbnb by 29.9% in the third quarter. Renaissance Technologies LLC now owns 7,279,027 shares of the company’s stock valued at $764,589,000 after purchasing an additional 1,674,460 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Airbnb by 76.0% in the third quarter. Two Sigma Advisers LP now owns 2,663,100 shares of the company’s stock valued at $279,732,000 after purchasing an additional 1,149,900 shares in the last quarter. Findlay Park Partners LLP bought a new position in shares of Airbnb in the fourth quarter valued at approximately $95,912,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Airbnb in the first quarter valued at approximately $173,967,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Airbnb Stock Up 1.1 %

ABNB stock opened at $127.07 on Wednesday. The firm has a market cap of $81.39 billion, a PE ratio of 45.38, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $118.60 and a 200 day moving average of $108.55. Airbnb, Inc. has a twelve month low of $81.91 and a twelve month high of $144.63.

Airbnb (NASDAQ:ABNB – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.27 by $0.21. Airbnb had a return on equity of 35.92% and a net margin of 22.54%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.08 earnings per share. The business’s revenue was up 24.2% on a year-over-year basis. On average, research analysts forecast that Airbnb, Inc. will post 3.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABNB. Susquehanna lifted their price target on Airbnb from $135.00 to $155.00 and gave the stock a “positive” rating in a report on Wednesday, February 15th. Cowen lifted their price target on Airbnb from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Mizuho boosted their target price on Airbnb from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. HSBC boosted their target price on Airbnb from $158.00 to $163.00 in a research note on Thursday, February 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research report on Tuesday, March 14th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $140.38.

Insider Activity

In other news, CAO David C. Bernstein sold 12,382 shares of Airbnb stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $140.00, for a total value of $1,733,480.00. Following the sale, the chief accounting officer now directly owns 50,171 shares of the company’s stock, valued at $7,023,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $130.00, for a total transaction of $325,000.00. Following the completion of the transaction, the chief technology officer now owns 192,046 shares in the company, valued at $24,965,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David C. Bernstein sold 12,382 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $140.00, for a total value of $1,733,480.00. Following the transaction, the chief accounting officer now owns 50,171 shares of the company’s stock, valued at approximately $7,023,940. The disclosure for this sale can be found here. Insiders have sold 3,096,285 shares of company stock worth $377,100,053 over the last ninety days. Corporate insiders own 32.69% of the company’s stock.

Airbnb Company Profile

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Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.