M&T Bank Corp Sells 1,716 Shares of Airbnb, Inc. (NASDAQ:ABNB)

M&T Bank Corp reduced its stake in Airbnb, Inc. (NASDAQ:ABNB) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,131 shares of the company’s stock after selling 1,716 shares during the quarter. M&T Bank Corp’s holdings in Airbnb were worth $2,332,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ABNB. Mackenzie Financial Corp increased its stake in Airbnb by 79.2% in the 3rd quarter. Mackenzie Financial Corp now owns 41,162 shares of the company’s stock worth $5,258,000 after buying an additional 18,196 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Airbnb by 5.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,823 shares of the company’s stock worth $250,000 after buying an additional 89 shares in the last quarter. Advisor Partners II LLC increased its stake in Airbnb by 32.5% in the 3rd quarter. Advisor Partners II LLC now owns 8,207 shares of the company’s stock worth $1,126,000 after buying an additional 2,013 shares in the last quarter. Graypoint LLC increased its stake in Airbnb by 19.0% in the 3rd quarter. Graypoint LLC now owns 4,623 shares of the company’s stock worth $634,000 after buying an additional 737 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new stake in Airbnb in the 3rd quarter worth $4,528,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank of Canada increased their price target on Airbnb from $140.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. BMO Capital Markets raised their price objective on Airbnb from $134.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, February 14th. Tigress Financial raised their price objective on Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Barclays raised their price objective on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, January 29th. Finally, DA Davidson restated a “neutral” rating and set a $145.00 price objective on shares of Airbnb in a research report on Friday, March 15th. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $149.19.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $163.00, for a total transaction of $97,800.00. Following the sale, the chief technology officer now directly owns 144,931 shares of the company’s stock, valued at $23,623,753. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $163.00, for a total transaction of $97,800.00. Following the completion of the transaction, the chief technology officer now directly owns 144,931 shares in the company, valued at $23,623,753. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 78,682 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the transaction, the chief technology officer now owns 144,331 shares of the company’s stock, valued at $24,435,238.30. The disclosure for this sale can be found here. Insiders have sold 396,874 shares of company stock valued at $63,712,671 over the last ninety days. 27.83% of the stock is currently owned by insiders.

Airbnb Price Performance

NASDAQ ABNB opened at $157.90 on Thursday. The firm has a market capitalization of $102.17 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.12 and a beta of 1.24. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 12-month low of $103.55 and a 12-month high of $170.10. The firm’s fifty day simple moving average is $161.59 and its two-hundred day simple moving average is $145.41.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. Analysts forecast that Airbnb, Inc. will post 4.47 EPS for the current fiscal 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.