Retirement Systems of Alabama Increases Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Retirement Systems of Alabama boosted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,031 shares of the company’s stock after acquiring an additional 18,407 shares during the period. Retirement Systems of Alabama owned 0.05% of Airbnb worth $43,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ABNB. Blue Trust Inc. raised its position in shares of Airbnb by 1,374.1% in the second quarter. Blue Trust Inc. now owns 4,835 shares of the company’s stock worth $798,000 after buying an additional 4,507 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Airbnb by 14.8% in the 2nd quarter. Brookstone Capital Management now owns 2,220 shares of the company’s stock valued at $329,000 after acquiring an additional 287 shares in the last quarter. CAP Partners LLC boosted its position in shares of Airbnb by 12.4% during the 2nd quarter. CAP Partners LLC now owns 2,207 shares of the company’s stock valued at $335,000 after acquiring an additional 244 shares during the last quarter. Mount Vernon Associates Inc. MD grew its holdings in shares of Airbnb by 10.7% during the second quarter. Mount Vernon Associates Inc. MD now owns 8,040 shares of the company’s stock worth $1,219,000 after purchasing an additional 775 shares in the last quarter. Finally, Revolve Wealth Partners LLC increased its position in shares of Airbnb by 8.8% in the second quarter. Revolve Wealth Partners LLC now owns 3,398 shares of the company’s stock worth $515,000 after purchasing an additional 274 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABNB has been the subject of several research analyst reports. Citigroup lifted their target price on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price objective on shares of Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. Raymond James began coverage on shares of Airbnb in a research report on Friday, September 27th. They issued a “market perform” rating and a $134.00 target price for the company. Robert W. Baird raised their price target on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Mizuho dropped their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.94.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the sale, the insider now directly owns 164,850 shares of the company’s stock, valued at $21,466,767. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 787,926 shares of company stock worth $101,440,343. 27.83% of the stock is owned by corporate insiders.

Airbnb Trading Down 4.7 %

Shares of ABNB opened at $130.95 on Friday. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $135.91 and its 200-day moving average price is $134.85. The firm has a market capitalization of $83.02 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 1.93 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the previous year, the firm posted $2.39 earnings per share. Sell-side analysts anticipate that Airbnb, Inc. will post 3.99 EPS for the current 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.