Arizona State Retirement System Sells 366 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Arizona State Retirement System trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 126,201 shares of the company’s stock after selling 366 shares during the quarter. Arizona State Retirement System’s holdings in Airbnb were worth $16,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ABNB. Golden State Wealth Management LLC bought a new stake in shares of Airbnb during the fourth quarter worth approximately $25,000. Hollencrest Capital Management raised its stake in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of Airbnb during the fourth quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in Airbnb in the third quarter valued at approximately $30,000. Finally, Whipplewood Advisors LLC bought a new stake in Airbnb in the fourth quarter valued at approximately $44,000. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Performance

Shares of ABNB stock opened at $142.58 on Thursday. The stock has a market cap of $89.90 billion, a P/E ratio of 34.52, a P/E/G ratio of 3.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The company has a fifty day moving average price of $136.93 and a two-hundred day moving average price of $132.43. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research note on Thursday, January 16th. Hsbc Global Res raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. B. Riley upped their target price on shares of Airbnb from $131.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Argus raised shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI upped their target price on shares of Airbnb to $155.00 and gave the company a “hold” rating in a research note on Wednesday, January 15th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $146.48.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $131.87, for a total transaction of $2,637,400.00. Following the completion of the sale, the chief technology officer now owns 185,414 shares in the company, valued at approximately $24,450,544.18. This trade represents a 9.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the sale, the chief executive officer now owns 12,000,913 shares of the company’s stock, valued at approximately $1,934,067,139.08. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,087,020 shares of company stock worth $295,392,297 over the last quarter. 27.83% of the stock is currently owned by insiders.

Airbnb Company 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.