Canandaigua National Bank & Trust Co. Has $927,000 Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Canandaigua National Bank & Trust Co. lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 12.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,308 shares of the company’s stock after selling 1,082 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Airbnb were worth $927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABNB. Jennison Associates LLC raised its holdings in shares of Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after acquiring an additional 3,899,179 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after buying an additional 3,558,178 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Airbnb by 19,052.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after buying an additional 1,684,646 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in Airbnb in the 1st quarter valued at about $265,292,000. Finally, Swedbank AB purchased a new stake in Airbnb in the 1st quarter valued at about $175,496,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the transaction, the director now owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $750,000.00. Following the sale, the chief financial officer now owns 537,072 shares in the company, valued at approximately $64,448,640. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the sale, the director now owns 16,472 shares in the company, valued at approximately $2,083,378.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 672,631 shares of company stock valued at $91,006,602. 27.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ABNB. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 price objective on shares of Airbnb in a research note on Monday, September 30th. Morgan Stanley lifted their price objective on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Truist Financial dropped their target price on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Argus cut shares of Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, BMO Capital Markets dropped their target price on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Airbnb has an average rating of “Hold” and an average price target of $134.16.

Airbnb Stock Performance

Shares of NASDAQ ABNB traded up $4.56 during trading on Friday, reaching $129.85. 2,988,440 shares of the company traded hands, compared to its average volume of 4,518,248. The firm has a 50 day simple moving average of $122.16 and a 200-day simple moving average of $142.50. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $83.63 billion, a PE ratio of 17.38, a P/E/G ratio of 1.72 and a beta of 1.17. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. Equities research analysts anticipate that Airbnb, Inc. will post 4.39 earnings per share for the current year.

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.