California Public Employees Retirement System Has $160.27 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

California Public Employees Retirement System decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,219,616 shares of the company’s stock after selling 40,780 shares during the period. California Public Employees Retirement System owned about 0.19% of Airbnb worth $160,270,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Airbnb in the 4th quarter valued at $433,374,000. Meritage Group LP bought a new stake in shares of Airbnb in the 3rd quarter worth about $160,985,000. Principal Financial Group Inc. increased its position in shares of Airbnb by 174.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock worth $245,268,000 after purchasing an additional 1,185,892 shares in the last quarter. Temasek Holdings Private Ltd lifted its holdings in Airbnb by 91.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock valued at $294,726,000 after purchasing an additional 1,109,076 shares during the last quarter. Finally, Parnassus Investments LLC boosted its position in Airbnb by 8,324.9% in the fourth quarter. Parnassus Investments LLC now owns 655,539 shares of the company’s stock valued at $86,144,000 after buying an additional 647,758 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the transaction, the chief executive officer now owns 12,000,913 shares in the company, valued at $1,934,067,139.08. This trade represents a 1.89 % decrease in their position. 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 700 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $129.55, for a total value of $90,685.00. Following the sale, the chief technology officer now owns 170,719 shares of the company’s stock, valued at approximately $22,116,646.45. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,270,894 shares of company stock valued at $317,578,168. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

Shares of ABNB stock opened at $120.69 on Monday. The company has a market capitalization of $76.10 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $166.74. The company has a 50-day simple moving average of $135.29 and a 200 day simple moving average of $133.83.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ABNB. Canaccord Genuity Group boosted their target price on Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, February 14th. UBS Group increased their price objective on shares of Airbnb from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Bank of America upped their target price on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Benchmark upped their price objective on Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, HSBC raised Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Five equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and a consensus price target of $147.36.

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.