Cetera Investment Advisers Has $8.80 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Cetera Investment Advisers cut its stake in Airbnb by 51%, now holding 73,638 shares worth approximately $8.8 million after selling 76,527 shares in the first quarter.
• Airbnb's Chief Financial Officer, Elinor Mertz, sold 6,250 shares for over $849,000, while Director Joseph Gebbia sold 236,000 shares valued at around $32.8 million.
• Airbnb has recently received mixed ratings from analysts, with a consensus rating of "Hold" and an average price target of $142.10.

Cetera Investment Advisers lowered its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 51.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,638 shares of the company's stock after selling 76,527 shares during the period. Cetera Investment Advisers' holdings in Airbnb were worth $8,797,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northern Trust Corp increased its stake in Airbnb by 8.4% during the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock valued at $564,647,000 after acquiring an additional 331,607 shares during the period. Renaissance Technologies LLC increased its stake in Airbnb by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock valued at $548,683,000 after acquiring an additional 558,856 shares during the period. Principal Financial Group Inc. increased its stake in Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after acquiring an additional 1,389,251 shares during the period. Two Sigma Advisers LP increased its stake in Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after acquiring an additional 2,577,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Airbnb by 11.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,636,132 shares of the company's stock valued at $346,414,000 after acquiring an additional 276,128 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Airbnb from $104.00 to $111.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Citigroup decreased their price objective on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, May 5th. BTIG Research reaffirmed a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. JMP Securities reaffirmed a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Finally, Cantor Fitzgerald reaffirmed an "underweight" rating and set a $100.00 price objective on shares of Airbnb in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $142.10.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded up $2.94 during mid-day trading on Monday, reaching $130.96. 5,267,633 shares of the company's stock were exchanged, compared to its average volume of 5,177,553. The firm has a market capitalization of $82.04 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 2.38 and a beta of 1.13. The business's fifty day moving average price is $135.13 and its 200-day moving average price is $131.21. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. Airbnb's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Transactions at Airbnb

In related news, CEO Brian Chesky sold 8,000 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total value of $1,026,640.00. Following the transaction, the chief executive officer owned 40,800 shares in the company, valued at $5,235,864. The trade was a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total transaction of $826,750.00. Following the completion of the transaction, the chief financial officer owned 467,611 shares in the company, valued at approximately $61,855,583.08. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,649,308 shares of company stock worth $218,906,636. Company insiders own 27.91% of the company's stock.

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.