Connor Clark & Lunn Investment Management Ltd. Makes New $34.98 Million Investment in Airbnb, Inc. (NASDAQ:ABNB)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 275,860 shares of the company's stock, valued at approximately $34,982,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABNB. Farrow Financial Inc. lifted its position in shares of Airbnb by 1.0% in the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company's stock worth $1,087,000 after purchasing an additional 69 shares during the period. GYL Financial Synergies LLC increased its stake in shares of Airbnb by 5.0% in the second quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company's stock worth $241,000 after purchasing an additional 76 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of Airbnb by 1.6% in the second quarter. HB Wealth Management LLC now owns 4,938 shares of the company's stock valued at $749,000 after acquiring an additional 76 shares during the period. Optas LLC lifted its position in Airbnb by 4.5% during the second quarter. Optas LLC now owns 1,829 shares of the company's stock valued at $277,000 after purchasing an additional 78 shares during the last quarter. Finally, Sage Mountain Advisors LLC raised its stake in shares of Airbnb by 1.1% during the second quarter. Sage Mountain Advisors LLC now owns 7,341 shares of the company's stock worth $1,113,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the sale, the chief technology officer now owns 195,844 shares of the company's stock, valued at approximately $23,501,280. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now directly owns 13,315,912 shares of the company's stock, valued at $1,597,909,440. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 417,206 shares of company stock valued at $51,738,467. 27.83% of the stock is owned by insiders.

Airbnb Stock Up 2.9 %

Shares of ABNB traded up $3.81 during mid-day trading on Wednesday, reaching $135.25. The company's stock had a trading volume of 5,534,208 shares, compared to its average volume of 4,522,906. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The stock has a market cap of $85.74 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The company's 50 day moving average is $131.63 and its 200 day moving average is $136.06.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on ABNB shares. Sanford C. Bernstein dropped their target price on shares of Airbnb from $174.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, September 17th. Susquehanna increased their target price on Airbnb from $130.00 to $160.00 and gave the stock a "positive" rating in a research note on Monday, November 11th. Robert W. Baird raised their price target on Airbnb from $120.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Barclays lifted their target price on Airbnb from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Friday, November 8th. Finally, Morgan Stanley lifted their price target on Airbnb from $120.00 to $130.00 and gave the company an "underweight" rating in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $138.97.

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.