California Public Employees Retirement System Sells 18,788 Shares of Airbnb, Inc. (NASDAQ:ABNB)

California Public Employees Retirement System reduced its stake in Airbnb, Inc. (NASDAQ:ABNB) by 2.5% in the 4th quarter, HoldingsChannel reports. 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’s holdings in Airbnb were worth $98,502,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ABNB. Duality Advisers LP acquired a new position in Airbnb during the fourth quarter valued at approximately $315,000. Commerzbank Aktiengesellschaft FI acquired a new position in Airbnb during the fourth quarter valued at approximately $266,000. Handelsbanken Fonder AB raised its position in Airbnb by 28.0% during the fourth quarter. Handelsbanken Fonder AB now owns 108,352 shares of the company’s stock valued at $14,751,000 after purchasing an additional 23,699 shares in the last quarter. CWM LLC raised its position in Airbnb by 27.6% during the fourth quarter. CWM LLC now owns 8,457 shares of the company’s stock valued at $1,151,000 after purchasing an additional 1,829 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in Airbnb by 31.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,996 shares of the company’s stock valued at $272,000 after purchasing an additional 472 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Price Performance

ABNB stock opened at $160.95 on Wednesday. The stock has a market capitalization of $104.15 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The company’s 50-day moving average is $159.80 and its 200-day moving average is $142.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 1.66. Airbnb, Inc. has a 1 year low of $103.55 and a 1 year high of $170.10.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Benchmark assumed coverage on shares of Airbnb in a report on Thursday, April 11th. They set a “buy” rating and a $190.00 price target for the company. Wells Fargo & Company upped their price target on shares of Airbnb from $107.00 to $127.00 and gave the stock an “underweight” rating in a report on Monday, April 1st. UBS Group lowered their price target on shares of Airbnb from $148.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Mizuho upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and upped their price target for the stock from $150.00 to $200.00 in a report on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Thursday, April 11th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $149.19.

Insider Transactions at Airbnb

In related news, insider Nathan Blecharczyk sold 60,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $146.58, for a total value of $8,794,800.00. Following the sale, the insider now owns 473,762 shares in the company, valued at approximately $69,444,033.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jeffrey D. Jordan sold 8,000 shares of the company’s stock in a transaction dated 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 owns 151,646 shares in the company, valued at approximately $22,746,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 60,000 shares of the company’s stock in a transaction dated 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 owns 473,762 shares in the company, valued at approximately $69,444,033.96. The disclosure for this sale can be found here. Insiders have sold 463,674 shares of company stock valued at $73,516,515 in the last 90 days. 30.84% of the stock is currently owned by corporate insiders.

About Airbnb

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.