Connor Clark & Lunn Investment Management Ltd. Makes New $34.98 Million Investment in Airbnb, Inc. (NASDAQ:ABNB)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 275,860 shares of the company’s stock, valued at approximately $34,982,000.

Several other institutional investors have also recently bought and sold shares of ABNB. Transcendent Capital Group LLC acquired a new position in shares of Airbnb during the first quarter worth approximately $25,000. New Millennium Group LLC bought a new position in Airbnb in the 2nd quarter worth approximately $28,000. Pathway Financial Advisers LLC acquired a new position in Airbnb during the 1st quarter worth $33,000. Cultivar Capital Inc. bought a new position in Airbnb in the 2nd quarter valued at $30,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb in the 3rd quarter valued at $25,000. Institutional investors own 80.76% of the company’s stock.

Analyst Ratings Changes

ABNB has been the subject of several recent research reports. Cantor Fitzgerald reissued an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. The Goldman Sachs Group reduced their price target on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Mizuho cut their target price on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Sanford C. Bernstein decreased their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Finally, TD Cowen increased their price target on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Six 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 stock. Based on data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $138.97.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $131.44 on Wednesday. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market capitalization of $83.33 billion, a price-to-earnings ratio of 46.12, a PEG ratio of 1.87 and a beta of 1.15. 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 business has a 50-day moving average of $131.63 and a 200-day moving average of $136.06.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results 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 company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period last year, the firm earned $2.39 EPS. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.04 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 completion of the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 11,635 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the sale, the director now owns 16,472 shares of the company’s stock, valued at $2,259,958.40. This trade represents a 41.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 417,206 shares of company stock valued at $51,738,467 in the last quarter. Company insiders own 27.83% of the company’s stock.

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.