CIBC Asset Management Inc Has $17.30 Million Holdings in Airbnb, Inc. (NASDAQ:ABNB)

CIBC Asset Management Inc increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,382 shares of the company’s stock after acquiring an additional 7,148 shares during the period. CIBC Asset Management Inc’s holdings in Airbnb were worth $17,295,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ABNB. Vanguard Group Inc. boosted its position in shares of Airbnb by 2.4% during the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after buying an additional 791,149 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Airbnb by 4.7% in the second 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. Clearbridge Investments LLC boosted its holdings in Airbnb by 0.6% during the first quarter. Clearbridge Investments LLC now owns 2,001,711 shares of the company’s stock worth $330,202,000 after purchasing an additional 12,200 shares during the last quarter. Finally, Farallon Capital Management LLC grew its position in Airbnb by 5.8% in the second quarter. Farallon Capital Management LLC now owns 1,701,000 shares of the company’s stock valued at $257,923,000 after purchasing an additional 92,780 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Down 1.5 %

ABNB stock opened at $132.50 on Friday. The firm has a 50-day moving average price of $130.99 and a 200-day moving average price of $136.73. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. 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 stock has a market capitalization of $85.01 billion, a P/E ratio of 46.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the company earned $2.39 earnings per share. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets lowered their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Raymond James started coverage on shares of Airbnb in a report on Friday, September 27th. They set a “market perform” rating and a $134.00 target price on the stock. Robert W. Baird lifted their price objective on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $155.00 target price on shares of Airbnb in a research note on Friday, November 8th. Finally, Piper Sandler upped their price objective on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus target price of $139.31.

Insider Activity

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. The trade was a 0.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. The trade was a 41.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 417,806 shares of company stock worth $51,809,831. Insiders own 27.83% of the company’s stock.

Airbnb 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.