Cary Street Partners Financial LLC Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

Cary Street Partners Financial LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,810 shares of the company's stock, valued at approximately $501,000.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Airbnb by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock valued at $1,244,514,000 after purchasing an additional 72,991 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Northern Trust Corp grew its holdings in Airbnb by 8.4% during the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock worth $564,647,000 after acquiring an additional 331,607 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after acquiring an additional 558,856 shares in the last quarter. Finally, Norges Bank acquired a new position in Airbnb during the 4th quarter worth approximately $433,374,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Buying and Selling at Airbnb

In related news, CEO Brian Chesky sold 230,772 shares of Airbnb stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the sale, the chief executive officer now directly owns 12,000,913 shares in the company, valued at $1,934,067,139.08. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $122.84, for a total transaction of $26,322,769.40. Following the sale, the director now owns 1,866,300 shares in the company, valued at approximately $229,256,292. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,173,970 shares of company stock valued at $293,686,892 in the last ninety days. Company insiders own 27.91% of the company's stock.

Airbnb Stock Performance

NASDAQ ABNB traded up $3.84 during trading hours on Tuesday, hitting $138.05. The company had a trading volume of 6,886,222 shares, compared to its average volume of 4,870,883. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm has a market cap of $87.05 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $121.36 and a 200-day simple moving average of $131.16.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. Equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on ABNB. The Goldman Sachs Group upgraded shares of Airbnb from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $110.00 to $153.00 in a report on Friday, February 14th. Phillip Securities cut shares of Airbnb from a "hold" rating to a "moderate sell" rating in a report on Friday. Jefferies Financial Group upgraded shares of Airbnb from a "hold" rating to a "buy" rating and boosted their price target for the stock from $165.00 to $185.00 in a report on Monday, March 10th. Gordon Haskett upgraded shares of Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price objective for the company in a research report on Friday, February 14th. Finally, Baird R W upgraded shares of Airbnb from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $141.43.

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.