Cullen Frost Bankers Inc. Grows Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Cullen Frost Bankers Inc. raised its position in Airbnb, Inc. (NASDAQ:ABNB) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,781 shares of the company’s stock after buying an additional 2,181 shares during the period. Cullen Frost Bankers Inc.’s holdings in Airbnb were worth $6,233,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. CVA Family Office LLC acquired a new stake in Airbnb during the 4th quarter valued at approximately $26,000. Orion Capital Management LLC bought a new stake in shares of Airbnb in the third quarter worth $27,000. Bfsg LLC bought a new stake in shares of Airbnb in the fourth quarter worth $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Airbnb in the fourth quarter valued at $30,000. Finally, Venturi Wealth Management LLC boosted its stake in Airbnb by 36.2% during the 4th quarter. Venturi Wealth Management LLC now owns 301 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $161.02, for a total transaction of $96,612.00. Following the sale, the chief technology officer now directly owns 220,504 shares of the company’s stock, valued at approximately $35,505,554.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Aristotle N. Balogh sold 78,682 shares of the business’s stock in a transaction that occurred 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 directly owns 144,331 shares of the company’s stock, valued at $24,435,238.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $161.02, for a total transaction of $96,612.00. Following the completion of the sale, the chief technology officer now owns 220,504 shares of the company’s stock, valued at approximately $35,505,554.08. The disclosure for this sale can be found here. Insiders sold 396,874 shares of company stock worth $63,712,671 in the last quarter. 27.83% of the stock is owned by company insiders.

Airbnb Stock Performance

NASDAQ:ABNB opened at $157.90 on Thursday. The company has a 50-day moving average of $161.68 and a 200-day moving average of $145.50. The firm has a market cap of $102.17 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth 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 twelve month low of $103.55 and a twelve month high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. Analysts forecast that Airbnb, Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of recent analyst reports. Tigress Financial upped their target price on shares of Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, April 5th. BMO Capital Markets upped their price objective on Airbnb from $134.00 to $135.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. DA Davidson reiterated a “neutral” rating and issued a $145.00 target price on shares of Airbnb in a research report on Friday, March 15th. Piper Sandler reissued a “neutral” rating and set a $155.00 target price (up from $145.00) on shares of Airbnb in a report on Thursday. Finally, Bank of America raised their target price on shares of Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $149.52.

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.