New York State Common Retirement Fund Cuts Stake in Airbnb, Inc. (NASDAQ:ABNB)

New York State Common Retirement Fund lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 11.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 596,618 shares of the company’s stock after selling 76,396 shares during the period. New York State Common Retirement Fund’s holdings in Airbnb were worth $81,224,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ABNB. CVA Family Office LLC purchased a new position in Airbnb during the 4th quarter worth $26,000. Orion Capital Management LLC acquired a new position in shares of Airbnb during the 3rd quarter worth $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Airbnb during the 4th quarter worth $30,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Airbnb during the 3rd quarter worth $39,000. Finally, Financial Management Professionals Inc. grew its stake in shares of Airbnb by 518.4% during the 4th quarter. Financial Management Professionals Inc. now owns 303 shares of the company’s stock worth $41,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $163.00, for a total value of $97,800.00. Following the completion of the sale, the chief technology officer now owns 144,931 shares of the company’s stock, valued at $23,623,753. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $163.00, for a total value of $97,800.00. Following the completion of the sale, the chief technology officer now owns 144,931 shares of the company’s stock, valued at $23,623,753. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey D. Jordan sold 8,000 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director now directly owns 151,646 shares of the company’s stock, valued at approximately $22,746,900. The disclosure for this sale can be found here. Insiders sold 463,674 shares of company stock valued at $73,516,515 over the last 90 days. 30.84% of the stock is owned by corporate insiders.

Airbnb Stock Up 2.8 %

Shares of NASDAQ:ABNB opened at $160.95 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 52-week low of $103.55 and a 52-week high of $170.10. The company has a 50 day moving average of $159.80 and a two-hundred day moving average of $142.89. The company has a market capitalization of $104.15 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ABNB shares. Tigress Financial upped their price target on shares of Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. DA Davidson reissued a “neutral” rating and issued a $145.00 price objective on shares of Airbnb in a research note on Friday, March 15th. Royal Bank of Canada raised their price target on shares of Airbnb from $140.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Benchmark initiated coverage on shares of Airbnb in a report on Thursday, April 11th. They set a “buy” rating and a $190.00 price objective on the stock. Finally, Susquehanna increased their price objective on shares of Airbnb from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average target price of $149.19.

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.