Connor Clark & Lunn Investment Management Ltd. Sells 58,896 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 21.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 216,964 shares of the company’s stock after selling 58,896 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Airbnb were worth $28,511,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ABNB. Golden State Wealth Management LLC bought a new stake in Airbnb in the fourth quarter worth approximately $25,000. Berbice Capital Management LLC bought a new stake in Airbnb in the fourth quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in Airbnb in the third quarter worth approximately $30,000. Whipplewood Advisors LLC bought a new stake in Airbnb in the fourth quarter worth approximately $44,000. Finally, Cromwell Holdings LLC grew its position in Airbnb by 82.5% in the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after acquiring an additional 170 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $133.58, for a total transaction of $5,137,620.38. Following the transaction, the chief executive officer now owns 12,537,369 shares of the company’s stock, valued at $1,674,741,751.02. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $128.15, for a total transaction of $89,705.00. Following the transaction, the chief technology officer now directly owns 182,614 shares in the company, valued at $23,401,984.10. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,054,509 shares of company stock valued at $290,940,989. 27.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

ABNB has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Friday, February 14th. Susquehanna upped their price objective on shares of Airbnb from $160.00 to $200.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Jefferies Financial Group raised shares of Airbnb from a “hold” rating to a “buy” rating and upped their price objective for the stock from $165.00 to $185.00 in a report on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a report on Friday, February 14th. Finally, Barclays upped their price objective on shares of Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a report on Friday, February 14th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Airbnb currently has a consensus rating of “Hold” and an average price target of $148.00.

Airbnb Stock Up 0.9 %

Shares of NASDAQ ABNB opened at $126.55 on Thursday. The firm has a market capitalization of $79.79 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The firm’s 50-day moving average is $136.73 and its 200-day moving average is $132.89.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

About Airbnb

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.