New York State Common Retirement Fund Sells 76,396 Shares of Airbnb, Inc. (NASDAQ:ABNB)

New York State Common Retirement Fund reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 11.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 596,618 shares of the company’s stock after selling 76,396 shares during the period. New York State Common Retirement Fund owned 0.09% of Airbnb worth $81,224,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ABNB. Vanguard Group Inc. raised its position in shares of Airbnb by 43.0% in the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock worth $4,697,896,000 after acquiring an additional 10,301,746 shares in the last quarter. Northern Trust Corp raised its position in shares of Airbnb by 41.3% in the 3rd quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock worth $598,745,000 after acquiring an additional 1,276,456 shares in the last quarter. Legal & General Group Plc raised its position in shares of Airbnb by 5.0% in the 3rd quarter. Legal & General Group Plc now owns 2,568,807 shares of the company’s stock worth $352,466,000 after acquiring an additional 121,651 shares in the last quarter. Alphinity Investment Management Pty Ltd raised its position in shares of Airbnb by 48.3% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after acquiring an additional 813,074 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Airbnb by 69.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,301,395 shares of the company’s stock worth $315,774,000 after acquiring an additional 943,520 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABNB. Susquehanna lifted their price objective on Airbnb from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, February 14th. Truist Financial lifted their price objective on Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. B. Riley began coverage on Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price for the company. Tigress Financial raised their target price on Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, B. Riley Financial began coverage on Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price for the company. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $149.19.

Insider Buying and Selling

In related news, insider Nathan Blecharczyk sold 60,000 shares of Airbnb stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $146.58, for a total value of $8,794,800.00. Following the sale, the insider now owns 473,762 shares of the company’s stock, valued at approximately $69,444,033.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $155.83, for a total transaction of $93,498.00. Following the sale, the chief technology officer now owns 221,704 shares of the company’s stock, valued at approximately $34,548,134.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $146.58, for a total transaction of $8,794,800.00. Following the completion of the transaction, the insider now directly owns 473,762 shares in the company, valued at approximately $69,444,033.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 463,674 shares of company stock valued at $73,516,515. 30.84% of the stock is owned by company insiders.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $160.95 on Wednesday. Airbnb, Inc. has a twelve month low of $103.55 and a twelve month high of $170.10. The stock’s 50 day moving average price is $159.80 and its 200-day moving average price is $142.89. The company has a market capitalization of $104.15 billion, a PE ratio of 22.23, a PEG ratio of 2.01 and a beta of 1.25. 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 (NASDAQ:ABNB) last announced its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. On average, equities analysts anticipate that Airbnb, Inc. will post 4.63 EPS for the current year.

Airbnb 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.