M&T Bank Corp Has $58.11 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

M&T Bank Corp lifted its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 2,527.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 458,243 shares of the company's stock after purchasing an additional 440,803 shares during the quarter. M&T Bank Corp owned 0.07% of Airbnb worth $58,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Edgewood Management LLC raised its stake in shares of Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company's stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company's stock worth $537,872,000 after purchasing an additional 4,172,985 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company's stock worth $519,044,000 after purchasing an additional 153,784 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Airbnb by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company's stock worth $343,185,000 after purchasing an additional 52,358 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Airbnb by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company's stock worth $299,272,000 after purchasing an additional 80,610 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Price Performance

ABNB stock traded up $1.03 during trading on Tuesday, hitting $138.30. The company had a trading volume of 4,776,711 shares, compared to its average volume of 4,519,238. The company has a fifty day moving average price of $135.13 and a two-hundred day moving average price of $134.95. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a market cap of $87.68 billion, a P/E ratio of 48.53, a P/E/G ratio of 1.91 and a beta of 1.13. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS 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 analyst estimates of $3.72 billion. During the same period in the prior year, the firm earned $2.39 EPS. Equities research analysts expect that Airbnb, Inc. will post 3.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $750,000.00. Following the transaction, the chief financial officer now owns 537,072 shares of the company's stock, valued at $64,448,640. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Chesky sold 230,769 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 748,465 shares of company stock worth $96,015,340. 27.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. UBS Group raised their price objective on Airbnb from $134.00 to $144.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Truist Financial cut their price objective on Airbnb from $124.00 to $123.00 and set a "hold" rating on the stock in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Airbnb from $100.00 to $102.00 and gave the company an "underweight" rating in a research note on Tuesday, October 8th. 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 note on Friday, October 11th. Finally, Cantor Fitzgerald reissued an "underweight" rating and issued a $94.00 price objective on shares of Airbnb in a research note on Monday, October 7th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $138.94.

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.