California State Teachers Retirement System Lowers Holdings in Airbnb, Inc. (NASDAQ:ABNB)

California State Teachers Retirement System reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 717,299 shares of the company’s stock after selling 12,995 shares during the period. California State Teachers Retirement System’s holdings in Airbnb were worth $94,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of ABNB. Advisory Resource Group raised its holdings in Airbnb by 25.7% in the 3rd quarter. Advisory Resource Group now owns 10,434 shares of the company’s stock worth $1,323,000 after purchasing an additional 2,131 shares during the period. Virtu Financial LLC acquired a new position in shares of Airbnb during the 3rd quarter worth approximately $609,000. Wilmington Savings Fund Society FSB acquired a new stake in Airbnb in the 3rd quarter valued at $648,000. Tri Ri Asset Management Corp purchased a new stake in Airbnb in the 3rd quarter worth $6,352,000. Finally, Retirement Systems of Alabama increased its stake in shares of Airbnb by 5.7% during the third quarter. Retirement Systems of Alabama now owns 341,031 shares of the company’s stock worth $43,246,000 after purchasing an additional 18,407 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABNB. DA Davidson lifted their price objective on Airbnb from $131.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research report on Friday, February 14th. Jefferies Financial Group upgraded shares of Airbnb from a “hold” rating to a “buy” rating and increased their target price for the company from $165.00 to $185.00 in a research report on Monday, March 10th. The Goldman Sachs Group upgraded Airbnb from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $110.00 to $153.00 in a report on Friday, February 14th. Finally, Wells Fargo & Company dropped their price objective on shares of Airbnb from $134.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, April 7th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average price target of $146.06.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 38,461 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $129.87, for a total value of $4,994,930.07. Following the completion of the transaction, the chief executive officer now owns 12,421,986 shares in the company, valued at approximately $1,613,243,321.82. This represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $114.22, for a total transaction of $24,475,632.70. Following the sale, the director now owns 2,080,585 shares in the company, valued at $237,644,418.70. This represents a 9.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,998,146 shares of company stock valued at $272,401,900 over the last three months. 27.83% of the stock is owned by corporate insiders.

Airbnb Trading Up 0.6 %

Shares of NASDAQ:ABNB opened at $123.30 on Tuesday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $165.50. The company’s 50 day moving average is $124.98 and its two-hundred day moving average is $131.82. The company has a market cap of $77.75 billion, a PE ratio of 29.85, a P/E/G ratio of 3.52 and a beta of 1.15. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Airbnb Company 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.