VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 443,399 Airbnb, Inc. $ABNB

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 443,399 shares of the company’s stock, valued at approximately $58,679,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.07% of Airbnb at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABNB. Albert D Mason Inc. lifted its position in Airbnb by 10.9% during the 2nd quarter. Albert D Mason Inc. now owns 3,595 shares of the company’s stock valued at $476,000 after acquiring an additional 353 shares during the period. Koshinski Asset Management Inc. grew its holdings in Airbnb by 7.8% in the second quarter. Koshinski Asset Management Inc. now owns 2,139 shares of the company’s stock worth $283,000 after purchasing an additional 155 shares during the period. Chevy Chase Trust Holdings LLC grew its holdings in Airbnb by 0.6% in the second quarter. Chevy Chase Trust Holdings LLC now owns 228,376 shares of the company’s stock worth $30,223,000 after purchasing an additional 1,352 shares during the period. Stratos Wealth Advisors LLC increased its stake in shares of Airbnb by 1.9% during the second quarter. Stratos Wealth Advisors LLC now owns 18,444 shares of the company’s stock valued at $2,441,000 after purchasing an additional 340 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Airbnb by 0.4% during the second quarter. Nordea Investment Management AB now owns 321,281 shares of the company’s stock valued at $42,791,000 after purchasing an additional 1,190 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABNB. Mizuho began coverage on Airbnb in a research note on Monday, September 29th. They issued an “outperform” rating and a $151.00 price target on the stock. Morgan Stanley cut their target price on Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company set a $110.00 price target on Airbnb and gave the company an “underweight” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Truist Financial cut their price objective on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $141.81.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $125.91 on Friday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The stock’s fifty day moving average price is $123.99 and its 200-day moving average price is $127.30. The company has a market cap of $78.25 billion, a P/E ratio of 30.49, a PEG ratio of 2.30 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $119.22, for a total value of $28,135,920.00. Following the completion of the sale, the director owned 704,015 shares of the company’s stock, valued at approximately $83,932,668.30. The trade was a 25.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $120.46, for a total transaction of $72,276.00. Following the sale, the chief technology officer owned 197,806 shares of the company’s stock, valued at approximately $23,827,710.76. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,666,876 shares of company stock worth $210,819,940. Company insiders own 27.91% of the company’s stock.

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.