Airbnb, Inc. (NASDAQ:ABNB) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System raised its stake in Airbnb, Inc. (NASDAQ:ABNB) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,300 shares of the company’s stock after purchasing an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in Airbnb were worth $19,680,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in Airbnb in the fourth quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in shares of Airbnb during the 3rd quarter valued at approximately $27,000. Bfsg LLC bought a new position in Airbnb during the fourth quarter worth $27,000. Trust Co. of Vermont bought a new position in shares of Airbnb in the 4th quarter worth about $27,000. Finally, Vima LLC bought a new position in Airbnb in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ABNB. B. Riley Financial began coverage on Airbnb in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Airbnb from $107.00 to $127.00 and gave the stock an “underweight” rating in a report on Monday, April 1st. DA Davidson reissued a “neutral” rating and set a $145.00 target price on shares of Airbnb in a research note on Thursday, May 9th. Citigroup dropped their price target on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Piper Sandler Companies boosted their price objective on Airbnb from $145.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Airbnb currently has an average rating of “Hold” and an average target price of $152.38.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 44,990 shares of Airbnb stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the transaction, the director now owns 46,467 shares in the company, valued at $6,971,908.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total value of $97,200.00. Following the completion of the sale, the chief technology officer now directly owns 219,904 shares of the company’s stock, valued at $35,624,448. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 44,990 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the transaction, the director now directly owns 46,467 shares in the company, valued at $6,971,908.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 424,322 shares of company stock valued at $62,720,612. Company insiders own 27.83% of the company’s stock.

Airbnb Trading Up 1.8 %

Shares of NASDAQ ABNB opened at $154.34 on Wednesday. The business has a fifty day simple moving average of $150.20 and a 200-day simple moving average of $151.11. The company has a market cap of $99.40 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.88 and a beta of 1.18. Airbnb, Inc. has a 12 month low of $113.24 and a 12 month high of $170.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 earnings per share. Sell-side analysts predict that Airbnb, Inc. will post 4.65 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.