Louisiana State Employees Retirement System Decreases Stock Holdings in Airbnb, Inc. $ABNB

Louisiana State Employees Retirement System trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,400 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Airbnb were worth $7,199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ABNB. Harris Associates L P lifted its holdings in Airbnb by 86.0% in the first quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after acquiring an additional 4,598,125 shares during the period. Pacer Advisors Inc. increased its position in shares of Airbnb by 2,297.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after purchasing an additional 1,916,676 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. Finally, Consulta Ltd purchased a new stake in shares of Airbnb during the 1st quarter valued at about $149,325,000. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $124.96, for a total value of $74,976.00. Following the transaction, the chief technology officer directly owned 202,006 shares of the company’s stock, valued at approximately $25,242,669.76. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 4,630 shares of Airbnb stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the sale, the chief financial officer owned 444,070 shares in the company, valued at approximately $57,027,469.40. The trade was a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,431,476 shares of company stock worth $182,776,618 in the last quarter. 27.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ABNB shares. Truist Financial cut their target price on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a research report on Wednesday, September 3rd. BTIG Research reiterated a “neutral” rating on shares of Airbnb in a research note on Tuesday. Morgan Stanley decreased their target price on Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a report on Thursday, August 7th. UBS Group decreased their target price on Airbnb from $156.00 to $148.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Finally, Jefferies Financial Group reduced their price target on Airbnb from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $141.81.

Airbnb Stock Performance

Shares of ABNB stock opened at $119.85 on Wednesday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The firm has a market capitalization of $74.48 billion, a PE ratio of 29.02, a PEG ratio of 2.20 and a beta of 1.10. The stock has a fifty day simple moving average of $125.08 and a two-hundred day simple moving average of $127.47.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.Airbnb’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

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.