Sendero Wealth Management LLC Invests $3.79 Million in Airbnb, Inc. (NASDAQ:ABNB)

Sendero Wealth Management LLC purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the fourth quarter, Holdings Channel reports. The firm purchased 28,861 shares of the company’s stock, valued at approximately $3,793,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABNB. Edgewood Management LLC grew its holdings in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after acquiring an additional 1,143,464 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Airbnb by 1.6% in the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after purchasing an additional 146,761 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares during the period. Legal & General Group Plc raised its position in Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after purchasing an additional 153,784 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Airbnb by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $343,185,000 after purchasing an additional 52,358 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Trading Up 3.9 %

NASDAQ:ABNB opened at $132.52 on Thursday. The company has a market cap of $84.01 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $134.62 and a two-hundred day simple moving average of $132.22. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter last year, the company posted $2.39 EPS. Research analysts forecast that Airbnb, Inc. will post 3.99 earnings per share for the current year.

Insider Transactions at Airbnb

In other news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $137.00, for a total value of $137,000.00. Following the transaction, the chief accounting officer now owns 40,581 shares of the company’s stock, valued at $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total transaction of $68,005.00. Following the sale, the chief technology officer now owns 185,414 shares in the company, valued at approximately $25,218,158.14. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 915,997 shares of company stock worth $122,800,660 in the last quarter. Company insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Morgan Stanley boosted their price objective on shares of Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research report on Monday. Jefferies Financial Group raised their target price on shares of Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Cantor Fitzgerald reiterated an “underweight” rating and set a $94.00 price target on shares of Airbnb in a research report on Monday, October 7th. Finally, UBS Group raised their price objective on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average target price of $139.81.

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.