VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Airbnb, Inc. $ABNB

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 443,399 shares of the company’s stock, valued at approximately $58,679,000.

Several other institutional investors and hedge funds have also modified their holdings of ABNB. Kentucky Trust Co purchased a new stake in shares of Airbnb in the 2nd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. increased its position 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 worth $26,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners bought a new position in shares of Airbnb in the second quarter worth about $28,000. Stonebridge Financial Group LLC raised its stake in shares of Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after buying an additional 106 shares during the period. Finally, Bartlett & CO. Wealth Management LLC lifted its position in shares of Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Jefferies Financial Group decreased their target price on shares of Airbnb from $165.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. BMO Capital Markets set a $124.00 price objective on shares of Airbnb and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Wedbush lowered their target price on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Barclays set a $105.00 target price on shares of Airbnb and gave the stock an “underweight” rating in a report on Thursday, August 7th. Finally, Citizens Jmp upgraded Airbnb to a “hold” rating in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average target price of $141.81.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $125.91 on Friday. The firm has a market cap of $78.25 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 2.30 and a beta of 1.10. The firm has a fifty day moving average price of $123.99 and a 200 day moving average price of $127.30. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Transactions at Airbnb

In other news, insider Nathan Blecharczyk sold 2,246 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider directly owned 182,514 shares of the company’s stock, valued at $22,850,752.80. This represents a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $120.46, for a total value of $72,276.00. Following the transaction, the chief technology officer owned 197,806 shares of the company’s stock, valued at $23,827,710.76. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,666,876 shares of company stock valued at $210,819,940 over the last three months. Corporate insiders own 27.91% of the company’s stock.

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.