Cwm LLC Sells 19,109 Shares of Airbnb, Inc. $ABNB

Key Points

• Cwm LLC has reduced its stake in Airbnb, Inc. by 26.4%, selling 19,109 shares to retain 53,263 shares valued at approximately $7 million.
• Several institutional investors have recently increased their holdings in Airbnb, with E Fund Management Hong Kong Co. Ltd. raising its stake by 70.9% in the second quarter.
• Analysts have mixed views on Airbnb's stock, with a consensus rating of "Hold" and a price target of $141.81, while some firms are revising their price objectives downwards.

Cwm LLC cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 26.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,263 shares of the company's stock after selling 19,109 shares during the quarter. Cwm LLC's holdings in Airbnb were worth $7,049,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its position in shares of Airbnb by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company's stock valued at $604,000 after acquiring an additional 78 shares during the period. Harbour Investments Inc. raised its holdings in Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after buying an additional 80 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after buying an additional 83 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock worth $26,000 after buying an additional 83 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in Airbnb by 31.6% during the first quarter. Rakuten Securities Inc. now owns 379 shares of the company's stock worth $45,000 after buying an additional 91 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABNB. Morgan Stanley lowered their price objective on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Airbnb in a report on Wednesday, October 8th. Jefferies Financial Group lowered their price objective on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Royal Bank Of Canada upped their price objective on shares of Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Truist Financial lowered their target price on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $141.81.

Airbnb Price Performance

Shares of ABNB stock opened at $124.26 on Thursday. The firm has a 50-day moving average of $123.83 and a 200-day moving average of $127.21. The company has a market cap of $77.22 billion, a P/E ratio of 30.09, a P/E/G ratio of 2.24 and a beta of 1.10. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. As a group, research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the transaction, the chief financial officer owned 444,070 shares in the company, valued at approximately $57,027,469.40. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the transaction, the insider owned 182,514 shares of the company's stock, valued at approximately $22,850,752.80. The trade was a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,666,876 shares of company stock worth $210,819,940 in the last ninety days. Corporate insiders own 27.91% of the company's stock.

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.

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