Commerce Bank Acquires 2,658 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Commerce Bank lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 14.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,338 shares of the company’s stock after purchasing an additional 2,658 shares during the period. Commerce Bank’s holdings in Airbnb were worth $2,706,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in Airbnb by 19,052.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after buying an additional 1,684,646 shares during the period. Farallon Capital Management LLC purchased a new stake in Airbnb during the first quarter valued at approximately $265,292,000. International Assets Investment Management LLC lifted its holdings in shares of Airbnb by 19,430.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after purchasing an additional 1,113,747 shares during the last quarter. Swedbank AB purchased a new stake in shares of Airbnb during the 1st quarter valued at $175,496,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in Airbnb in the second quarter valued at about $60,240,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ABNB shares. Wells Fargo & Company increased their price objective on shares of Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. BMO Capital Markets decreased their price target on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Barclays raised their target price on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Wedbush raised their target price on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, 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 for the company. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $138.97.

Insider Transactions at Airbnb

In other news, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction dated 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 owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 641,094 shares of company stock worth $81,077,447. 27.83% of the stock is currently owned by company insiders.

Airbnb Stock Performance

Airbnb stock opened at $137.34 on Friday. The stock has a market cap of $87.07 billion, a price-to-earnings ratio of 48.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.15. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a 50 day simple moving average of $132.73 and a 200-day simple moving average of $135.70.

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

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.