California Public Employees Retirement System Cuts Position in Airbnb, Inc. (NASDAQ:ABNB)

California Public Employees Retirement System lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 723,533 shares of the company’s stock after selling 18,788 shares during the quarter. California Public Employees Retirement System owned about 0.11% of Airbnb worth $98,502,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. CVA Family Office LLC acquired a new position in shares of Airbnb in the 4th quarter worth approximately $26,000. Orion Capital Management LLC bought a new stake in Airbnb during the 3rd quarter valued at $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in Airbnb during the 4th quarter valued at $30,000. Farmers & Merchants Investments Inc. bought a new stake in Airbnb during the 3rd quarter valued at $39,000. Finally, Financial Management Professionals Inc. raised its stake in Airbnb by 518.4% during the 4th quarter. Financial Management Professionals Inc. now owns 303 shares of the company’s stock valued at $41,000 after acquiring an additional 254 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other news, Director Jeffrey D. Jordan sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $150.00, for a total value of $1,200,000.00. Following the sale, the director now directly owns 151,646 shares in the company, valued at approximately $22,746,900. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Nathan Blecharczyk sold 60,000 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $146.58, for a total transaction of $8,794,800.00. Following the completion of the sale, the insider now directly owns 473,762 shares of the company’s stock, valued at approximately $69,444,033.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey D. Jordan sold 8,000 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $150.00, for a total value of $1,200,000.00. Following the sale, the director now directly owns 151,646 shares of the company’s stock, valued at $22,746,900. The disclosure for this sale can be found here. Insiders have sold 463,674 shares of company stock worth $73,516,515 over the last three months. Company insiders own 30.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays boosted their price objective on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Monday, January 29th. Truist Financial lifted their target price on Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Mizuho upgraded Airbnb from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $200.00 in a report on Wednesday. Piper Sandler lifted their target price on Airbnb from $136.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Susquehanna lifted their target price on Airbnb from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Airbnb has an average rating of “Hold” and an average target price of $149.19.

Airbnb Price Performance

NASDAQ ABNB opened at $160.95 on Wednesday. Airbnb, Inc. has a twelve month low of $103.55 and a twelve month high of $170.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $104.15 billion, a PE ratio of 22.23, a P/E/G ratio of 2.01 and a beta of 1.25. The stock has a 50-day simple moving average of $159.80 and a 200 day simple moving average of $142.89.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.09. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Research analysts anticipate that Airbnb, Inc. will post 4.63 EPS for the current year.

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.