Airbnb, Inc. $ABNB Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC trimmed its position in Airbnb, Inc. (NASDAQ:ABNB) by 10.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 382,362 shares of the company’s stock after selling 44,663 shares during the period. Airbnb makes up about 2.1% of Cambiar Investors LLC’s portfolio, making the stock its 17th largest holding. Cambiar Investors LLC’s holdings in Airbnb were worth $46,426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. acquired a new stake in shares of Airbnb in the third quarter valued at $2,550,000. Markel Group Inc. raised its position in Airbnb by 7.1% in the third quarter. Markel Group Inc. now owns 227,133 shares of the company’s stock worth $27,578,000 after acquiring an additional 15,130 shares in the last quarter. Sage Rhino Capital LLC lifted its holdings in Airbnb by 4.3% in the 3rd quarter. Sage Rhino Capital LLC now owns 10,352 shares of the company’s stock valued at $1,257,000 after acquiring an additional 428 shares during the last quarter. Patron Partners LLC boosted its position in shares of Airbnb by 16.7% during the 3rd quarter. Patron Partners LLC now owns 2,670 shares of the company’s stock valued at $324,000 after purchasing an additional 382 shares in the last quarter. Finally, FSB Premier Wealth Management Inc. acquired a new position in shares of Airbnb in the 3rd quarter worth approximately $316,000. 80.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ABNB. Royal Bank Of Canada reissued an “outperform” rating on shares of Airbnb in a research note on Wednesday, January 14th. Wedbush increased their price objective on Airbnb from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, December 19th. Cantor Fitzgerald upgraded Airbnb from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $117.00 to $141.00 in a report on Thursday, January 8th. Mizuho set a $156.00 target price on Airbnb in a research report on Friday, November 7th. Finally, Barclays set a $120.00 price target on Airbnb and gave the company an “equal weight” rating in a research report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $147.84.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 51,230 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $131.16, for a total value of $6,719,326.80. Following the transaction, the chief executive officer directly owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. This represents a 52.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 141,063 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $121.96, for a total value of $17,204,043.48. Following the sale, the insider owned 11,520 shares of the company’s stock, valued at approximately $1,404,979.20. This represents a 92.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,144,872 shares of company stock worth $140,439,638. 27.83% of the stock is currently owned by company insiders.

Airbnb Trading Down 0.9%

Shares of NASDAQ ABNB opened at $132.22 on Wednesday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The firm has a market capitalization of $81.39 billion, a PE ratio of 31.41, a PEG ratio of 2.07 and a beta of 1.09. The business has a 50-day moving average price of $129.52 and a two-hundred day moving average price of $127.47.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. Airbnb’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 EPS. Research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.