Public Employees Retirement Association of Colorado Has $9.30 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Public Employees Retirement Association of Colorado reduced its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 61,349 shares of the company’s stock after selling 921 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Airbnb were worth $9,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp acquired a new position in Airbnb in the 1st quarter valued at approximately $7,628,000. Rafferty Asset Management LLC increased its position in Airbnb by 18.4% in the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after acquiring an additional 22,551 shares during the period. SteelPeak Wealth LLC increased its position in Airbnb by 17.2% in the 1st quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock valued at $1,107,000 after acquiring an additional 985 shares during the period. ProShare Advisors LLC increased its position in shares of Airbnb by 20.6% during the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock worth $80,644,000 after buying an additional 83,383 shares during the period. Finally, State of Tennessee Treasury Department increased its position in shares of Airbnb by 35.8% during the fourth quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock worth $19,503,000 after buying an additional 37,785 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

NASDAQ ABNB opened at $131.18 on Friday. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The company has a 50-day simple moving average of $125.60 and a 200 day simple moving average of $144.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $84.49 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. On average, research analysts predict that Airbnb, Inc. will post 4.39 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABNB. Wells Fargo & Company decreased their price objective on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Sanford C. Bernstein decreased their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Piper Sandler decreased their price objective on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $134.17.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total transaction of $91,752.00. Following the completion of the transaction, the chief technology officer now owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO David C. Bernstein sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $145.88, for a total value of $145,880.00. Following the completion of the sale, the chief accounting officer now directly owns 44,043 shares in the company, valued at approximately $6,424,992.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total transaction of $91,752.00. Following the completion of the transaction, the chief technology officer now directly owns 208,174 shares in the company, valued at $31,833,968.08. The disclosure for this sale can be found here. Insiders sold 685,451 shares of company stock worth $95,552,289 over the last quarter. Corporate insiders own 27.83% of the company’s stock.

Airbnb 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.