Texas Permanent School Fund Corp Sells 11,387 Shares of Airbnb, Inc. $ABNB

by · The Cerbat Gem

Texas Permanent School Fund Corp lowered its stake in Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 24.3% in the second quarter, HoldingsChannel.com reports. The firm owned 35,402 shares of the company’s stock after selling 11,387 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Airbnb were worth $4,685,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. DDD Partners LLC increased its stake in shares of Airbnb by 3.9% in the 2nd quarter. DDD Partners LLC now owns 2,041 shares of the company’s stock valued at $270,000 after buying an additional 76 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Airbnb by 1.6% during the first quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock valued at $604,000 after acquiring an additional 78 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Airbnb by 70.9% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after acquiring an additional 83 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Airbnb by 0.8% in the second quarter. SBI Securities Co. Ltd. now owns 10,552 shares of the company’s stock valued at $1,396,000 after acquiring an additional 85 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Airbnb by 4.3% in the second quarter. IFP Advisors Inc now owns 2,398 shares of the company’s stock worth $317,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. BNP Paribas Exane began coverage on shares of Airbnb in a research report on Monday, November 24th. They set a “neutral” rating on the stock. BTIG Research reissued a “neutral” rating on shares of Airbnb in a research note on Friday, November 7th. Wells Fargo & Company raised their price objective on shares of Airbnb from $111.00 to $118.00 and gave the company an “underweight” rating in a research note on Monday, December 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, October 8th. Finally, Mizuho set a $156.00 price target on Airbnb in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $144.28.

View Our Latest Analysis on Airbnb

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $120.66, for a total value of $28,475,760.00. Following the completion of the sale, the director directly owned 232,015 shares in the company, valued at $27,994,929.90. This represents a 50.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 141,063 shares of Airbnb stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $121.96, for a total value of $17,204,043.48. Following the transaction, the insider owned 11,520 shares in the company, valued at $1,404,979.20. This trade represents a 92.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,737,378 shares of company stock valued at $212,009,665. Company insiders own 27.91% of the company’s stock.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $133.78 on Thursday. The company has a 50 day moving average price of $122.74 and a two-hundred day moving average price of $127.49. The company has a market capitalization of $82.35 billion, a PE ratio of 31.78, a PEG ratio of 2.32 and a beta of 1.11. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

Airbnb (NASDAQ:ABNB – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the business earned $2.13 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Airbnb Profile

(Free Report)

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.

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