Cambridge Investment Research Advisors Inc. Trims Stake in Airbnb, Inc. (NASDAQ:ABNB)

Cambridge Investment Research Advisors Inc. reduced its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,263 shares of the company's stock after selling 4,908 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Airbnb were worth $3,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABNB. Geode Capital Management LLC increased its holdings in Airbnb by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock worth $1,244,514,000 after buying an additional 72,991 shares during the last quarter. Clearbridge Investments LLC grew its position in Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after acquiring an additional 2,590,475 shares in the last quarter. Northern Trust Corp increased its stake in shares of 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 purchasing an additional 331,607 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock valued at $548,683,000 after purchasing an additional 558,856 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Airbnb during the 4th quarter valued at $433,374,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Barclays decreased their price target on Airbnb from $120.00 to $103.00 and set an "underweight" rating for the company in a research note on Friday, May 2nd. Tigress Financial increased their target price on shares of Airbnb from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Evercore ISI decreased their price target on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Piper Sandler decreased their price objective on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Finally, Royal Bank Of Canada lowered their target price on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $141.23.

Airbnb Price Performance

NASDAQ:ABNB traded down $0.18 on Wednesday, reaching $135.23. 1,666,793 shares of the company's stock were exchanged, compared to its average volume of 5,024,599. The firm has a market cap of $84.71 billion, a price-to-earnings ratio of 34.15, a P/E/G ratio of 2.48 and a beta of 1.13. The stock has a fifty day simple moving average of $130.82 and a 200-day simple moving average of $130.38. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week 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 earnings per share (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 the consensus estimate of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business's revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Transactions at Airbnb

In other Airbnb news, CEO Brian Chesky sold 8,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $128.33, for a total value of $1,026,640.00. Following the completion of the sale, the chief executive officer owned 40,800 shares in the company, valued at approximately $5,235,864. This trade represents a 16.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $128.66, for a total value of $30,363,760.00. Following the completion of the sale, the director directly owned 1,416,015 shares of the company's stock, valued at $182,184,489.90. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,607,528 shares of company stock worth $201,688,571. Insiders own 27.83% 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.