Retirement Systems of Alabama Buys 18,407 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Retirement Systems of Alabama grew its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.7% in the third quarter, Holdings Channel reports. The fund owned 341,031 shares of the company’s stock after buying an additional 18,407 shares during the quarter. Retirement Systems of Alabama’s holdings in Airbnb were worth $43,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABNB. Northwest Investment Counselors LLC purchased a new stake in shares of Airbnb during the 3rd quarter valued at about $25,000. Hollencrest Capital Management lifted its stake in shares of Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. New Millennium Group LLC purchased a new position in shares of Airbnb in the 2nd quarter worth approximately $28,000. Cultivar Capital Inc. bought a new position in shares of Airbnb during the 2nd quarter valued at approximately $30,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Airbnb during the 3rd quarter valued at $30,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on ABNB shares. JPMorgan Chase & Co. lifted their price objective on shares of Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Susquehanna upped their price target on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a report on Monday, November 11th. Robert W. Baird increased their price objective on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Truist Financial dropped their target price on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Finally, Sanford C. Bernstein reduced their price target on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $138.94.

Airbnb Trading Down 4.7 %

Shares of NASDAQ ABNB opened at $130.95 on Friday. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The business has a fifty day moving average price of $135.91 and a 200 day moving average price of $134.85. The stock has a market capitalization of $83.02 billion, a P/E ratio of 45.95, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company posted $2.39 earnings per share. Equities research analysts expect that Airbnb, Inc. will post 3.99 EPS for the current fiscal year.

Insider Activity at Airbnb

In related news, CEO Brian Chesky sold 76,923 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $139.94, for a total transaction of $10,764,604.62. Following the transaction, the chief executive officer now directly owns 12,616,300 shares in the company, valued at $1,765,525,022. The trade was a 0.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO David C. Bernstein sold 1,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $137.00, for a total value of $137,000.00. Following the sale, the chief accounting officer now owns 40,581 shares in the company, valued at $5,559,597. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 787,926 shares of company stock valued at $101,440,343 over the last 90 days. Insiders own 27.83% of the company’s stock.

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.