Public Employees Retirement Association of Colorado Has $9.30 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

Public Employees Retirement Association of Colorado lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,349 shares of the company’s stock after selling 921 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Airbnb were worth $9,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABNB. Transcendent Capital Group LLC bought a new position in Airbnb in the first quarter valued at approximately $25,000. Trust Co. of Vermont bought a new position in Airbnb in the fourth quarter valued at approximately $27,000. New Millennium Group LLC bought a new position in Airbnb in the second quarter valued at approximately $28,000. Vima LLC bought a new position in Airbnb in the fourth quarter valued at approximately $29,000. Finally, Cultivar Capital Inc. bought a new position in Airbnb in the second quarter valued at approximately $30,000. 80.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABNB. Jefferies Financial Group reduced their price target on shares of Airbnb from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Cantor Fitzgerald began coverage on shares of Airbnb in a research report on Thursday, September 5th. They set an “underweight” rating and a $94.00 price target on the stock. Robert W. Baird reduced their price target on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Wedbush reduced their price target on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price target on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $134.17.

Airbnb Stock Performance

NASDAQ ABNB opened at $131.18 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $84.49 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.54 and a beta of 1.16. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The firm has a 50-day moving average price of $125.60 and a two-hundred day moving average price of $144.73.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the company posted $0.98 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Analysts anticipate that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the completion of the sale, the chief technology officer now owns 209,374 shares of the company’s stock, valued at approximately $31,190,444.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total value of $89,382.00. Following the completion of the transaction, the chief technology officer now owns 209,374 shares of the company’s stock, valued at approximately $31,190,444.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The disclosure for this sale can be found here. In the last 90 days, insiders sold 685,451 shares of company stock valued at $95,552,289. Company insiders own 27.83% of the company’s stock.

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.