Maryland State Retirement & Pension System Has $2.74 Million Stock Holdings in Airbnb, Inc. $ABNB

Maryland State Retirement & Pension System increased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,670 shares of the company’s stock after buying an additional 624 shares during the period. Maryland State Retirement & Pension System’s holdings in Airbnb were worth $2,735,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Airbnb by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock worth $4,475,286,000 after buying an additional 604,120 shares during the period. Harris Associates L P lifted its position in shares of Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after purchasing an additional 4,598,125 shares during the period. Northern Trust Corp boosted its stake in shares of Airbnb by 2.5% in the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock valued at $525,979,000 after purchasing an additional 106,135 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after purchasing an additional 1,916,676 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Down 1.6%

Airbnb stock opened at $118.19 on Friday. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The firm’s fifty day moving average is $124.34 and its 200 day moving average is $127.27. The company has a market capitalization of $73.45 billion, a PE ratio of 28.62, a PEG ratio of 2.19 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share 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 firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. Sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Activity

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of the company’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the transaction, the chief accounting officer owned 42,619 shares in the company, valued at approximately $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 2,246 shares of the company’s stock in a transaction 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 transaction, the insider owned 182,514 shares in the company, valued at approximately $22,850,752.80. The trade was a 1.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,430,876 shares of company stock valued at $182,694,292. 27.91% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ABNB shares. Citizens Jmp raised shares of Airbnb to a “hold” rating in a research note on Monday, August 11th. BMO Capital Markets set a $124.00 price objective on shares of Airbnb and gave the company a “market perform” rating in a research note on Thursday, August 7th. BNP Paribas raised shares of Airbnb to a “hold” rating in a research note on Wednesday, July 16th. Morgan Stanley reduced their price objective on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday, August 7th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a research note on Tuesday. Three 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $141.81.

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.