Cohen Capital Management Inc. Makes New $648,000 Investment in Airbnb, Inc. (NASDAQ:ABNB)

Cohen Capital Management Inc. purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,112 shares of the company’s stock, valued at approximately $648,000.

Other hedge funds also recently modified their holdings of the company. Farrow Financial Inc. grew its position in Airbnb by 1.0% during the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after buying an additional 69 shares in the last quarter. Heritage Wealth Advisors increased its position in shares of Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 71 shares during the period. GYL Financial Synergies LLC raised its stake in shares of Airbnb by 5.0% in the second quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock valued at $241,000 after purchasing an additional 76 shares in the last quarter. HB Wealth Management LLC lifted its position in Airbnb by 1.6% in the second quarter. HB Wealth Management LLC now owns 4,938 shares of the company’s stock worth $749,000 after purchasing an additional 76 shares during the period. Finally, Optas LLC boosted its stake in Airbnb by 4.5% during the second quarter. Optas LLC now owns 1,829 shares of the company’s stock worth $277,000 after buying an additional 78 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Price Performance

Airbnb stock opened at $136.60 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $87.65 billion, a P/E ratio of 18.57, a PEG ratio of 1.90 and a beta of 1.15. The business has a 50-day moving average of $126.86 and a 200-day moving average of $138.07. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. On average, equities analysts anticipate that Airbnb, Inc. will post 4.17 EPS for the current year.

Analysts Set New Price Targets

ABNB has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Sanford C. Bernstein decreased their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a report on Monday, October 7th. Barclays decreased their price target on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley increased their price objective on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $135.35.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares in the company, valued at $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elinor Mertz sold 6,250 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 transaction of $750,000.00. Following the sale, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at $64,448,640. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 418,406 shares of company stock valued at $51,885,773. 27.83% of the stock is owned by company insiders.

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.