Airbnb, Inc. (NASDAQ:ABNB) Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,382 shares of the company's stock after acquiring an additional 7,148 shares during the period. CIBC Asset Management Inc's holdings in Airbnb were worth $17,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Transcendent Capital Group LLC acquired a new position in Airbnb during the 1st quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Airbnb during the third quarter worth about $25,000. Hollencrest Capital Management increased its stake in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company's stock worth $26,000 after buying an additional 200 shares during the period. New Millennium Group LLC acquired a new stake in Airbnb in the second quarter valued at approximately $28,000. Finally, Cultivar Capital Inc. purchased a new position in Airbnb in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Activity

In other news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $750,000.00. Following the completion of the transaction, the chief financial officer now directly owns 537,072 shares of the company's stock, valued at approximately $64,448,640. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company's stock, valued at $23,579,141.36. This trade represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 417,806 shares of company stock worth $51,809,831. 27.83% of the stock is currently owned by company insiders.

Airbnb Price Performance

NASDAQ ABNB traded down $2.06 during trading hours on Friday, reaching $132.50. The company's stock had a trading volume of 4,798,719 shares, compared to its average volume of 4,515,468. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The company's 50-day moving average is $130.99 and its two-hundred day moving average is $136.73. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market cap of $85.01 billion, a PE ratio of 46.49, a PEG ratio of 1.87 and a beta of 1.15.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business posted $2.39 earnings per share. Analysts forecast that Airbnb, Inc. will post 4.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABNB. Bank of America reissued a "hold" rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Wells Fargo & Company increased their target price on Airbnb from $100.00 to $102.00 and gave the company an "underweight" rating in a report on Tuesday, October 8th. Robert W. Baird raised their price target on Airbnb from $120.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Jefferies Financial Group increased their price objective on Airbnb from $120.00 to $135.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Finally, Mizuho cut their target price on Airbnb from $175.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, September 13th. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $139.31.

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.