State of New Jersey Common Pension Fund D Sells 3,682 Shares of Airbnb, Inc. $ABNB

State of New Jersey Common Pension Fund D reduced its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 146,231 shares of the company’s stock after selling 3,682 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Airbnb were worth $19,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in shares of Airbnb during the third quarter valued at $25,000. ORG Partners LLC lifted its holdings in shares of Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Airbnb by 397.7% during the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Wiser Advisor Group LLC bought a new position in shares of Airbnb during the third quarter valued at $27,000. Finally, Aventura Private Wealth LLC bought a new position in shares of Airbnb during the fourth quarter valued at $29,000. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Performance

Airbnb stock opened at $140.36 on Friday. The stock has a market cap of $85.44 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15. Airbnb, Inc. has a one year low of $110.81 and a one year high of $147.25. The stock has a fifty day moving average of $132.54 and a 200 day moving average of $128.85.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.73 EPS. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of research analyst reports. UBS Group upped their price target on Airbnb from $149.00 to $153.00 and gave the company a “neutral” rating in a report on Monday. Argus raised Airbnb to a “strong-buy” rating in a report on Tuesday, February 17th. Truist Financial raised Airbnb from a “sell” rating to a “hold” rating and upped their price target for the company from $107.00 to $129.00 in a report on Thursday, March 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $135.00 price target on shares of Airbnb in a report on Monday. Finally, Sanford C. Bernstein lowered their price target on Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $151.43.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 24,788 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $145.86, for a total transaction of $3,615,577.68. Following the completion of the sale, the insider owned 11,920 shares in the company, valued at approximately $1,738,651.20. This represents a 67.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $142.59, for a total value of $8,270,220.00. Following the sale, the director owned 112,015 shares of the company’s stock, valued at approximately $15,972,218.85. This trade represents a 34.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 399,075 shares of company stock worth $52,168,585. 27.91% of the stock is owned by insiders.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.