Cullen Frost Bankers Inc. Sells 38,386 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Cullen Frost Bankers Inc. trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 90.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,909 shares of the company's stock after selling 38,386 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Airbnb were worth $467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABNB. Park Square Financial Group LLC purchased a new position in shares of Airbnb during the fourth quarter worth $26,000. Orion Capital Management LLC purchased a new position in Airbnb during the 4th quarter worth $28,000. Stonebridge Financial Group LLC raised its position in Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after acquiring an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in shares of Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after purchasing an additional 174 shares in the last quarter. Finally, Graney & King LLC purchased a new stake in Airbnb in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Benchmark dropped their price objective on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. UBS Group lowered their target price on shares of Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Piper Sandler dropped their target price on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research 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 issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $141.50.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $136.40, for a total value of $32,190,400.00. Following the transaction, the director directly owned 708,015 shares of the company's stock, valued at approximately $96,573,246. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $137.21, for a total transaction of $82,326.00. Following the transaction, the chief technology officer owned 210,977 shares in the company, valued at approximately $28,948,154.17. The trade was a 0.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,629,043 shares of company stock worth $210,678,753 over the last ninety days. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

ABNB traded down $0.34 during trading on Monday, hitting $139.00. The stock had a trading volume of 1,140,267 shares, compared to its average volume of 5,024,082. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company's 50-day moving average price is $134.35 and its 200 day moving average price is $130.79. The firm has a market capitalization of $87.07 billion, a P/E ratio of 35.15, a PEG ratio of 2.61 and a beta of 1.13.

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