Connor Clark & Lunn Investment Management Ltd. Has $79.05 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Airbnb, Inc. (NASDAQ:ABNB) by 205.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 661,684 shares of the company’s stock after acquiring an additional 444,720 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Airbnb worth $79,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. MJP Associates Inc. ADV increased its position in Airbnb by 1.8% during the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock worth $490,000 after buying an additional 67 shares during the last quarter. Ellevest Inc. increased its position in Airbnb by 3.1% during the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock worth $349,000 after buying an additional 80 shares during the last quarter. Harbour Investments Inc. increased its position in Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock worth $88,000 after buying an additional 80 shares during the last quarter. Koshinski Asset Management Inc. increased its position in Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock worth $237,000 after buying an additional 83 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in Airbnb by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company’s stock worth $176,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the topic of several research reports. Evercore ISI decreased their target price on Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Barclays set a $105.00 target price on Airbnb and gave the stock an “underweight” rating in a research note on Thursday. BTIG Research reiterated a “neutral” rating on shares of Airbnb in a research note on Wednesday, May 28th. Citigroup dropped their price target on Airbnb from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Finally, DA Davidson upgraded Airbnb from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $170.00 to $155.00 in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $143.59.

Insider Buying and Selling at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $135.86, for a total transaction of $849,125.00. Following the completion of the transaction, the chief financial officer owned 461,361 shares of the company’s stock, valued at $62,680,505.46. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $139.39, for a total transaction of $83,634.00. Following the completion of the sale, the chief technology officer directly owned 209,777 shares in the company, valued at approximately $29,240,816.03. This trade represents a 0.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,671,023 shares of company stock valued at $223,195,427 over the last ninety days. 27.91% of the stock is currently owned by corporate insiders.

Airbnb Trading Up 0.8%

NASDAQ:ABNB opened at $121.02 on Friday. The company’s 50 day moving average is $134.96 and its two-hundred day moving average is $130.98. The company has a market cap of $75.81 billion, a PE ratio of 29.30, a P/E/G ratio of 2.22 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. As a group, analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal 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.