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

Commerce Bank increased its position in Airbnb, Inc. (NASDAQ:ABNB) by 14.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,338 shares of the company’s stock after buying an additional 2,658 shares during the quarter. Commerce Bank’s holdings in Airbnb were worth $2,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wedbush upped their price objective on shares of Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Phillip Securities reiterated a “reduce” rating and issued a $120.00 price objective on shares of Airbnb in a report on Tuesday, November 12th. Jefferies Financial Group boosted their target price on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Argus lowered Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.97.

Airbnb Stock Performance

ABNB opened at $137.34 on Friday. The firm has a market cap of $87.07 billion, a P/E ratio of 48.19, a PEG ratio of 1.89 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 company has a 50 day simple moving average of $132.73 and a two-hundred day simple moving average of $135.70. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10.

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 business had revenue of $3.73 billion during the quarter, compared to the consensus estimate 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 earned $2.39 earnings per share. Equities analysts forecast that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 641,094 shares of company stock valued at $81,077,447 in the last 90 days. 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.