New York State Teachers Retirement System Decreases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

New York State Teachers Retirement System cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 406,401 shares of the company’s stock after selling 17,804 shares during the period. New York State Teachers Retirement System owned about 0.06% of Airbnb worth $51,536,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABNB. Transcendent Capital Group LLC purchased a new stake in shares of Airbnb in the 1st quarter worth $25,000. New Millennium Group LLC purchased a new stake in shares of Airbnb in the 2nd quarter worth $28,000. Heritage Wealth Advisors increased its stake in shares of Airbnb by 55.0% in the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Airbnb in the 1st quarter worth $33,000. Finally, Cultivar Capital Inc. purchased a new stake in shares of Airbnb in the 2nd quarter worth $30,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Price Performance

ABNB opened at $136.50 on Thursday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $126.08 and its 200-day simple moving average is $138.50. The company has a market capitalization of $87.58 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.83 and a beta of 1.17.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.33 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 406,171 shares of company stock worth $50,208,253 over the last three months. 27.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

ABNB has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. B. Riley dropped their price objective on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Mizuho dropped their price objective on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Bank of America reissued a “hold” rating and set a $142.00 price objective (up previously from $132.00) on shares of Airbnb in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Airbnb has a consensus rating of “Hold” and an average price target of $135.35.

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.