Cullinan Associates Inc. Has $15.47 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

Cullinan Associates Inc. lowered its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 117,683 shares of the company’s stock after selling 2,220 shares during the period. Airbnb accounts for about 1.0% of Cullinan Associates Inc.’s portfolio, making the stock its 27th largest position. Cullinan Associates Inc.’s holdings in Airbnb were worth $15,465,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in shares of Airbnb during the 3rd quarter worth about $25,000. Hollencrest Capital Management boosted its holdings in shares of Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the period. Berbice Capital Management LLC acquired a new position in Airbnb in the 4th quarter valued at $26,000. Ashton Thomas Securities LLC bought a new position in Airbnb in the 3rd quarter worth $30,000. Finally, Quarry LP bought a new stake in Airbnb during the third quarter valued at about $55,000. 80.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the transaction, the insider now 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the sale, the chief technology officer now owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,372,293 shares of company stock worth $181,759,318. Company insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ABNB. Bank of America upped their price target on Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. UBS Group upped their price objective on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company dropped their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Susquehanna raised their price target on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a report on Monday, November 11th. Finally, Morgan Stanley lifted their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Airbnb presently has an average rating of “Hold” and an average price target of $139.63.

Airbnb Stock Down 1.1 %

Shares of ABNB opened at $129.78 on Tuesday. The stock has a market capitalization of $82.28 billion, a PE ratio of 45.54, a P/E/G ratio of 1.72 and a beta of 1.13. The firm’s 50 day moving average is $133.47 and its 200-day moving average is $130.39. 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.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business 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 quarter in the prior year, the business earned $2.39 earnings per share. Equities research analysts forecast that Airbnb, Inc. will post 3.98 EPS for the current year.

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.