Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,077 shares of the company’s stock after selling 1,707 shares during the period. Kentucky Retirement Systems’ holdings in Airbnb were worth $5,456,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Airbnb during the 4th quarter worth $26,000. Bfsg LLC acquired a new position in Airbnb during the 4th quarter worth $27,000. Trust Co. of Vermont acquired a new position in Airbnb during the 4th quarter worth $27,000. Vima LLC acquired a new position in Airbnb during the 4th quarter worth $29,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Airbnb during the 4th quarter worth $30,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Price Performance

Shares of ABNB stock traded up $0.07 during midday trading on Friday, reaching $140.10. 5,101,418 shares of the company were exchanged, compared to its average volume of 3,544,985. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $90.23 billion, a P/E ratio of 18.76, a PEG ratio of 1.73 and a beta of 1.18. The company’s 50 day moving average price is $147.78 and its two-hundred day moving average price is $152.23. Airbnb, Inc. has a 12 month low of $113.24 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the company earned $0.18 earnings per share. The company’s revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts expect that Airbnb, Inc. will post 4.66 earnings per share for the current year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total value of $97,200.00. Following the completion of the sale, the chief technology officer now directly owns 219,904 shares in the company, valued at $35,624,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $146.08, for a total transaction of $16,855,440.80. Following the transaction, the chief executive officer now owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total transaction of $97,200.00. Following the completion of the sale, the chief technology officer now directly owns 219,904 shares in the company, valued at approximately $35,624,448. The disclosure for this sale can be found here. Over the last three months, insiders sold 736,092 shares of company stock worth $109,519,936. 27.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ABNB shares. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Thursday, May 9th. DA Davidson restated a “neutral” rating and issued a $145.00 price target on shares of Airbnb in a research report on Thursday, May 9th. Morgan Stanley raised their price target on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. B. Riley assumed coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price target on the stock. Finally, UBS Group raised their price target on shares of Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average target price of $152.50.

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.