State of Alaska Department of Revenue Sells 10,370 Shares of Airbnb, Inc. (NASDAQ:ABNB)

State of Alaska Department of Revenue reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,963 shares of the company’s stock after selling 10,370 shares during the quarter. State of Alaska Department of Revenue’s holdings in Airbnb were worth $13,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Airbnb by 2.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,105,329 shares of the company’s stock worth $182,335,000 after purchasing an additional 26,735 shares during the period. Integrity Wealth Solutions LLC purchased a new position in shares of Airbnb in the first quarter worth $307,000. CAP Partners LLC lifted its holdings in shares of Airbnb by 4.8% in the first quarter. CAP Partners LLC now owns 1,963 shares of the company’s stock worth $324,000 after buying an additional 90 shares in the last quarter. Quattro Financial Advisors LLC lifted its holdings in shares of Airbnb by 2,841.2% in the first quarter. Quattro Financial Advisors LLC now owns 4,000 shares of the company’s stock worth $660,000 after buying an additional 3,864 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of Airbnb by 0.3% in the first quarter. State of Michigan Retirement System now owns 119,300 shares of the company’s stock worth $19,680,000 after buying an additional 300 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $150.02, for a total transaction of $1,745,482.70. Following the completion of the sale, the director now directly owns 30,435 shares in the company, valued at approximately $4,565,858.70. The disclosure for this sale can be found here. Insiders have sold 424,922 shares of company stock valued at $62,811,386 in the last 90 days. 27.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $155.00 target price (up previously from $145.00) on shares of Airbnb in a report on Thursday, May 9th. Bank of America boosted their target price on shares of Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. BMO Capital Markets boosted their target price on shares of Airbnb from $135.00 to $151.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. B. Riley initiated coverage on shares of Airbnb in a report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price on the stock. Finally, Benchmark initiated coverage on shares of Airbnb in a research note on Thursday, April 11th. They set a “buy” rating and a $190.00 price target on the stock. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $152.38.

Airbnb Stock Performance

Shares of Airbnb stock opened at $152.73 on Thursday. The firm has a market capitalization of $98.36 billion, a P/E ratio of 20.45, a PEG ratio of 1.88 and a beta of 1.18. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $150.00 and a 200 day moving average price of $151.12. Airbnb, Inc. has a 52 week low of $113.24 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping 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%. Airbnb’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.65 EPS for the current year.

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.