Cynosure Group LLC Takes $562,000 Position in Airbnb, Inc. (NASDAQ:ABNB)

Cynosure Group LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 4,435 shares of the company’s stock, valued at approximately $562,000.

Several other institutional investors also recently modified their holdings of ABNB. Pacer Advisors Inc. grew its stake in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after acquiring an additional 1,684,646 shares in the last quarter. Farallon Capital Management LLC bought a new position in Airbnb in the first quarter valued at $265,292,000. Edgewood Management LLC raised its position in Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Airbnb by 19,430.3% during the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after purchasing an additional 1,113,747 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Piper Sandler increased their price objective on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their price target on shares of Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Citigroup boosted their price objective on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. TD Cowen increased their target price on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Susquehanna lifted their target price on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus target price of $138.97.

Airbnb Stock Performance

Shares of ABNB stock opened at $138.28 on Thursday. The company’s fifty day moving average price is $133.86 and its 200-day moving average price is $135.47. The stock has a market cap of $87.67 billion, a PE ratio of 48.52, a price-to-earnings-growth ratio of 2.00 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period in the previous year, the firm earned $2.39 EPS. On average, equities analysts expect that Airbnb, Inc. will post 4.02 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 76,923 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $139.94, for a total value of $10,764,604.62. Following the transaction, the chief executive officer now owns 12,616,300 shares of the company’s stock, valued at $1,765,525,022. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 718,017 shares of company stock valued at $91,842,052 in the last ninety days. 27.83% of the stock is currently owned by corporate insiders.

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.