California State Teachers Retirement System Decreases Stake in Airbnb, Inc. (NASDAQ:ABNB)

California State Teachers Retirement System cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 717,299 shares of the company’s stock after selling 12,995 shares during the period. California State Teachers Retirement System owned about 0.11% of Airbnb worth $94,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ABNB. Geode Capital Management LLC raised its holdings in shares of Airbnb by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock worth $1,244,514,000 after purchasing an additional 72,991 shares during the period. Clearbridge Investments LLC lifted its position in shares of Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after buying an additional 2,590,475 shares during the last quarter. Northern Trust Corp grew its stake in shares of Airbnb by 8.4% during the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company’s stock worth $564,647,000 after acquiring an additional 331,607 shares during the period. Renaissance Technologies LLC increased its holdings in Airbnb by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock worth $548,683,000 after acquiring an additional 558,856 shares during the last quarter. Finally, Norges Bank purchased a new stake in Airbnb during the fourth quarter valued at about $433,374,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of recent research reports. HSBC raised Airbnb from a “hold” rating to a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. decreased their target price on shares of Airbnb from $160.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Truist Financial cut their price target on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating for the company in a report on Friday, March 21st. Phillip Securities upgraded Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their target price on Airbnb from $134.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, April 7th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $146.06.

Airbnb Stock Performance

Airbnb stock opened at $123.30 on Tuesday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $165.50. The company has a market capitalization of $77.75 billion, a PE ratio of 29.85, a P/E/G ratio of 3.52 and a beta of 1.15. The company has a 50 day moving average price of $124.98 and a 200-day moving average price of $131.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. As a group, equities analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $114.22, for a total value of $24,475,632.70. Following the completion of the sale, the director now directly owns 2,080,585 shares in the company, valued at approximately $237,644,418.70. This trade represents a 9.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the sale, the insider now directly owns 164,850 shares in the company, valued at approximately $26,046,300. This represents a 52.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,998,146 shares of company stock worth $272,401,900 over the last 90 days. Company insiders own 27.83% of the company’s stock.

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.