Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Kentucky Retirement Systems

by · The Markets Daily

Kentucky Retirement Systems cut its position in Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,653 shares of the company’s stock after selling 2,617 shares during the quarter. Kentucky Retirement Systems’ holdings in Airbnb were worth $3,887,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after acquiring an additional 3,558,178 shares during the period. Legal & General Group Plc raised its holdings in shares of Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after buying an additional 153,784 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Airbnb by 0.6% in the first quarter. Clearbridge Investments LLC now owns 2,001,711 shares of the company’s stock valued at $330,202,000 after buying an additional 12,200 shares during the last quarter. Farallon Capital Management LLC boosted its stake in shares of Airbnb by 5.8% during the second quarter. Farallon Capital Management LLC now owns 1,701,000 shares of the company’s stock worth $257,923,000 after buying an additional 92,780 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Airbnb by 19,052.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after buying an additional 1,684,646 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,806 shares of company stock valued at $51,809,831 in the last quarter. 27.83% of the stock is currently owned by company insiders.

Airbnb Price Performance

NASDAQ:ABNB opened at $132.50 on Friday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The firm has a market cap of $85.01 billion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company’s 50-day moving average is $130.99 and its two-hundred day moving average is $136.58. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB – Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the firm earned $2.39 EPS. Research analysts expect that Airbnb, Inc. will post 4.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a research report on Monday, October 7th. Citigroup lifted their price objective on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Barclays upped their price objective on shares of Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Royal Bank of Canada lowered their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, UBS Group increased their price target on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Airbnb currently has a consensus rating of “Hold” and an average target price of $139.31.

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About Airbnb

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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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