Public Sector Pension Investment Board Boosts Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Public Sector Pension Investment Board increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 81.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,919 shares of the company’s stock after acquiring an additional 7,609 shares during the quarter. Public Sector Pension Investment Board’s holdings in Airbnb were worth $2,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp purchased a new position in Airbnb during the 1st quarter worth approximately $7,628,000. Rafferty Asset Management LLC increased its holdings in shares of 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 holdings in shares of 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 raised its position in Airbnb by 20.6% in the 1st quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after purchasing an additional 83,383 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its position in Airbnb by 35.8% during the 4th quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock worth $19,503,000 after purchasing an additional 37,785 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $151.29, for a total value of $90,774.00. Following the completion of the sale, the chief technology officer now directly owns 208,774 shares in the company, valued at $31,585,418.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $151.29, for a total value of $90,774.00. Following the completion of the sale, the chief technology officer now directly owns 208,774 shares in the company, valued at $31,585,418.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $151.95, for a total transaction of $17,532,750.75. Following the completion of the transaction, the chief executive officer now directly owns 13,914,302 shares in the company, valued at approximately $2,114,278,188.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 552,989 shares of company stock valued at $75,824,030. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

NASDAQ ABNB opened at $128.25 on Monday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock has a market cap of $82.60 billion, a P/E ratio of 17.17, a PEG ratio of 1.72 and a beta of 1.16. The company’s 50-day simple moving average is $123.75 and its 200 day simple moving average is $143.27.

Airbnb (NASDAQ:ABNB) last issued its earnings results 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). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABNB. Benchmark reissued a “buy” rating and set a $155.00 price target on shares of Airbnb in a report on Monday, August 26th. Bank of America dropped their target price on Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Truist Financial decreased their price target on Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, Morgan Stanley increased their price objective on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $134.16.

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.