New York State Teachers Retirement System Sells 2,948 Shares of Airbnb, Inc. $ABNB

New York State Teachers Retirement System cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 329,496 shares of the company’s stock after selling 2,948 shares during the period. New York State Teachers Retirement System’s holdings in Airbnb were worth $43,606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in shares of Airbnb by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock valued at $604,000 after buying an additional 78 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Airbnb by 12.2% during the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock valued at $88,000 after buying an additional 80 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in shares of Airbnb by 4.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $237,000 after buying an additional 83 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after buying an additional 83 shares in the last quarter. Finally, Trivium Point Advisory LLC lifted its stake in shares of Airbnb by 3.0% during the 1st quarter. Trivium Point Advisory LLC now owns 3,408 shares of the company’s stock valued at $407,000 after buying an additional 99 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, October 13th. The shares were sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the completion of the sale, the director directly 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 legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $120.46, for a total transaction of $72,276.00. Following the sale, the chief technology officer directly owned 197,806 shares of the company’s stock, valued at $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 quarter, insiders sold 1,666,876 shares of company stock valued at $210,819,940. 27.91% of the stock is currently owned by insiders.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $122.89 on Friday. The firm has a fifty day moving average price of $123.89 and a two-hundred day moving average price of $127.24. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a market cap of $76.37 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.27 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the previous year, the firm posted $0.86 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their price target on shares of Airbnb from $140.00 to $145.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. BTIG Research reiterated a “neutral” rating on shares of Airbnb in a research note on Tuesday, October 7th. Citizens Jmp raised shares of Airbnb to a “hold” rating in a report on Monday, August 11th. Finally, Wedbush cut their price target on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and an average price target of $141.81.

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.