CIBC Private Wealth Group LLC Sells 2,673 Shares of Airbnb, Inc. (NASDAQ:ABNB)

CIBC Private Wealth Group LLC lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,881 shares of the company's stock after selling 2,673 shares during the period. CIBC Private Wealth Group LLC's holdings in Airbnb were worth $5,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. CreativeOne Wealth LLC acquired a new stake in shares of Airbnb during the third quarter worth $326,000. Public Sector Pension Investment Board increased its position in Airbnb by 11.8% during the third quarter. Public Sector Pension Investment Board now owns 18,919 shares of the company's stock worth $2,399,000 after acquiring an additional 2,000 shares during the period. Edgestream Partners L.P. acquired a new stake in Airbnb in the 3rd quarter worth about $899,000. Bamco Inc. NY bought a new stake in Airbnb in the 3rd quarter valued at about $16,993,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of Airbnb during the 3rd quarter worth approximately $711,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ABNB shares. Morgan Stanley boosted their price target on Airbnb from $115.00 to $125.00 and gave the company an "underweight" rating in a research note on Monday, January 13th. Wedbush reiterated an "outperform" rating and set a $155.00 target price on shares of Airbnb in a research report on Tuesday, February 4th. Jefferies Financial Group upgraded Airbnb from a "hold" rating to a "buy" rating and raised their price target for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. Truist Financial cut their price objective on shares of Airbnb from $123.00 to $112.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a report on Friday, February 14th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $147.28.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 700 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $135.35, for a total transaction of $94,745.00. Following the completion of the sale, the chief technology officer now owns 184,714 shares of the company's stock, valued at $25,001,039.90. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 183,078 shares of Airbnb stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the sale, the insider now owns 164,850 shares of the company's stock, valued at approximately $26,046,300. The trade was a 52.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,290,053 shares of company stock worth $319,656,539. Company insiders own 27.83% of the company's stock.

Airbnb Trading Down 6.4 %

ABNB stock traded down $7.31 during trading on Friday, hitting $106.66. The company had a trading volume of 10,255,808 shares, compared to its average volume of 4,639,425. The stock has a market cap of $67.25 billion, a PE ratio of 25.83, a PEG ratio of 3.52 and a beta of 1.15. The business has a 50-day moving average of $133.75 and a 200-day moving average of $133.74. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a one year low of $104.73 and a one year high of $166.74.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.