Zurcher Kantonalbank Zurich Cantonalbank Buys 71,085 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Airbnb, Inc. (NASDAQ:ABNB) by 95.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,341 shares of the company’s stock after acquiring an additional 71,085 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Airbnb were worth $19,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC bought a new position in shares of Airbnb in the fourth quarter worth about $26,000. Orion Capital Management LLC bought a new stake in shares of Airbnb during the third quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Airbnb during the fourth quarter worth approximately $30,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Airbnb during the third quarter worth approximately $39,000. Finally, Financial Management Professionals Inc. raised its stake in shares of Airbnb by 518.4% during the fourth quarter. Financial Management Professionals Inc. now owns 303 shares of the company’s stock worth $41,000 after buying an additional 254 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Performance

Shares of ABNB opened at $158.37 on Thursday. Airbnb, Inc. has a 12 month low of $103.55 and a 12 month high of $170.10. The firm has a fifty day simple moving average of $159.21 and a 200 day simple moving average of $141.97. The stock has a market capitalization of $102.48 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.99 and a beta of 1.25. 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 (NASDAQ:ABNB) last announced its earnings results on Tuesday, February 13th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Research analysts forecast that Airbnb, Inc. will post 4.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 4,350 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $140.03, for a total transaction of $609,130.50. Following the completion of the transaction, the chief executive officer now owns 14,933,297 shares in the company, valued at $2,091,109,578.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Airbnb news, CEO Brian Chesky sold 4,350 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $140.03, for a total transaction of $609,130.50. Following the sale, the chief executive officer now directly owns 14,933,297 shares of the company’s stock, valued at $2,091,109,578.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 11,420 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $140.03, for a total transaction of $1,599,142.60. Following the sale, the insider now directly owns 542,342 shares in the company, valued at $75,944,150.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 490,584 shares of company stock worth $77,302,032. 30.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ABNB shares. Benchmark started coverage on shares of Airbnb in a research note on Thursday, April 11th. They set a “buy” rating and a $190.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Airbnb from $107.00 to $127.00 and gave the stock an “underweight” rating in a research note on Monday, April 1st. Royal Bank of Canada boosted their price target on shares of Airbnb from $140.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Barclays boosted their price target on shares of Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Airbnb from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $147.58.

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.