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

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Airbnb, Inc. (NASDAQ:ABNBFree Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 86,499 shares of the company’s stock, valued at approximately $12,378,000.

Other institutional investors have also recently modified their holdings of the company. Wedmont Private Capital increased its position in shares of Airbnb by 1.7% in the second quarter. Wedmont Private Capital now owns 4,517 shares of the company’s stock worth $671,000 after acquiring an additional 75 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Airbnb by 1.3% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock valued at $727,000 after acquiring an additional 76 shares in the last quarter. BOKF NA boosted its position in Airbnb by 11.0% during the 4th quarter. BOKF NA now owns 787 shares of the company’s stock worth $107,000 after purchasing an additional 78 shares during the period. Private Advisor Group LLC boosted its position in Airbnb by 1.0% during the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock worth $1,007,000 after purchasing an additional 86 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC increased its holdings in Airbnb by 3.0% in the 2nd quarter. Norman Fields Gottscho Capital Management LLC now owns 3,085 shares of the company’s stock valued at $441,000 after purchasing an additional 90 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Performance

Shares of ABNB opened at $181.94 on Tuesday. The firm has a market cap of $108.94 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $163.73 and its two-hundred day moving average is $144.53. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $193.45.

Airbnb (NASDAQ:ABNBGet Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. Analysts forecast that Airbnb, Inc. will post 5.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nathan Blecharczyk sold 531,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.41, for a total value of $92,611,710.00. Following the sale, the insider owned 171,370 shares in the company, valued at approximately $29,888,641.70. This represents a 75.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia Jr. sold 294,903 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director directly owned 2,622,452 shares in the company, valued at $389,250,550.36. The trade was a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,288,689 shares of company stock valued at $374,988,733 in the last ninety days. Corporate insiders own 27.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ABNB shares. JPMorgan Chase & Co. raised their price objective on Airbnb from $140.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Phillip Securities downgraded Airbnb from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, August 11th. Oppenheimer increased their target price on Airbnb from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Cantor Fitzgerald raised their target price on Airbnb from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Wedbush raised Airbnb from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $152.00 to $200.00 in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $177.07.

Check Out Our Latest Stock Report on ABNB

Airbnb Company Profile

(Free Report)

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

See Also

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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