4,435 Shares in Airbnb, Inc. (NASDAQ:ABNB) Bought by Cynosure Group LLC

Cynosure Group LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,435 shares of the company’s stock, valued at approximately $562,000.

Several other large investors have also bought and sold shares of ABNB. Edgewood Management LLC increased its stake in shares of Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares during the period. Pacer Advisors Inc. increased its position in Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares during the period. Legal & General Group Plc increased its position in Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after purchasing an additional 153,784 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 during the last quarter. Finally, MKA Charitable Fund lifted its position in shares of Airbnb by 17.2% in the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after purchasing an additional 296,153 shares during the period. 80.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ABNB shares. Argus downgraded shares of Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research report on Friday, November 8th. Royal Bank of Canada dropped their price objective on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler raised their target price on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, B. Riley dropped their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Airbnb has a consensus rating of “Hold” and an average price target of $138.97.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’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 $72,000.00. Following the completion of the transaction, the chief technology officer now owns 195,844 shares in the company, valued at $23,501,280. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now directly owns 164,850 shares in the company, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 718,017 shares of company stock worth $91,842,052 over the last quarter. 27.83% of the stock is currently owned by company insiders.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $138.28 on Thursday. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company’s 50-day moving average is $133.86 and its 200 day moving average is $135.47. 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 has a market capitalization of $87.67 billion, a P/E ratio of 48.52, a price-to-earnings-growth ratio of 2.00 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company earned $2.39 earnings per share. On average, equities research analysts forecast that Airbnb, Inc. will post 4.02 earnings per share for the current year.

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.