Airbnb, Inc. (NASDAQ:ABNB) Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 80.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 325,023 shares of the company's stock after acquiring an additional 145,089 shares during the period. Cerity Partners LLC owned approximately 0.05% of Airbnb worth $38,827,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its position in shares of Airbnb by 28.6% during the first quarter. Alps Advisors Inc. now owns 9,912 shares of the company's stock worth $1,184,000 after buying an additional 2,202 shares during the period. Quotient Wealth Partners LLC raised its stake in shares of Airbnb by 22.4% in the first quarter. Quotient Wealth Partners LLC now owns 1,904 shares of the company's stock valued at $227,000 after acquiring an additional 349 shares in the last quarter. LBP AM SA raised its stake in shares of Airbnb by 24.3% in the first quarter. LBP AM SA now owns 23,293 shares of the company's stock valued at $2,783,000 after acquiring an additional 4,561 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Airbnb by 400.6% in the first quarter. Axxcess Wealth Management LLC now owns 21,451 shares of the company's stock valued at $2,563,000 after acquiring an additional 17,166 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of Airbnb by 1,045.0% in the first quarter. Cornerstone Planning Group LLC now owns 687 shares of the company's stock valued at $81,000 after acquiring an additional 627 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $136.27, for a total value of $81,762.00. Following the sale, the chief technology officer owned 211,577 shares of the company's stock, valued at approximately $28,831,597.79. The trade was a 0.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total transaction of $849,125.00. Following the sale, the chief financial officer owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,629,143 shares of company stock valued at $210,676,703. 27.91% of the stock is owned by corporate insiders.

Airbnb Trading Down 1.2%

Shares of NASDAQ ABNB traded down $1.65 during midday trading on Friday, reaching $135.35. 3,053,829 shares of the company were exchanged, compared to its average volume of 5,030,517. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The stock has a fifty day simple moving average of $133.00 and a 200 day simple moving average of $130.63. The stock has a market cap of $84.78 billion, a P/E ratio of 34.18, a PEG ratio of 2.57 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced 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 net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the prior year, the firm posted $0.41 EPS. Airbnb's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABNB. Barclays reduced their price objective on Airbnb from $120.00 to $103.00 and set an "underweight" rating on the stock in a research note on Friday, May 2nd. DA Davidson upgraded Airbnb from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. Citigroup cut their price target on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Phillip Securities cut Airbnb from a "hold" rating to a "moderate sell" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. cut their price target on Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $141.47.

Airbnb 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.