Louisiana State Employees Retirement System Invests $6.24 Million in Airbnb, Inc. $ABNB

Louisiana State Employees Retirement System bought a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the first quarter, HoldingsChannel reports. The institutional investor bought 49,400 shares of the company’s stock, valued at approximately $6,238,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harris Associates L P grew its holdings in Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after purchasing an additional 4,292,383 shares during the period. Independent Franchise Partners LLP purchased a new position in Airbnb in the 3rd quarter worth approximately $505,672,000. Norges Bank acquired a new stake in Airbnb during the 4th quarter valued at $480,332,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Airbnb by 453.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after acquiring an additional 2,724,682 shares in the last quarter. Finally, SRS Investment Management LLC acquired a new stake in Airbnb during the 4th quarter valued at approximately $342,017,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on ABNB shares. Oppenheimer raised Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a report on Monday, May 4th. HSBC lowered Airbnb from a “hold” rating to a “hold” rating in a report on Monday, May 4th. B. Riley Financial restated a “buy” rating on shares of Airbnb in a research report on Friday, May 8th. Wedbush raised Airbnb from a “neutral” rating to a “neutral” rating in a report on Monday, May 4th. Finally, Scotiabank began coverage on shares of Airbnb in a research note on Monday, May 4th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.96.

Airbnb Price Performance

NASDAQ ABNB opened at $141.88 on Friday. The company has a 50 day simple moving average of $137.20 and a 200-day simple moving average of $132.76. The firm has a market capitalization of $85.51 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $147.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts predict that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 265,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $135.45, for a total transaction of $35,894,250.00. Following the completion of the transaction, the director directly owned 3,182,355 shares in the company, valued at $431,049,984.75. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 60,136 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $145.70, for a total transaction of $8,761,815.20. Following the transaction, the insider directly owned 11,920 shares of the company’s stock, valued at $1,736,744. This represents a 83.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,914,860 shares of company stock worth $259,869,869. Company insiders own 27.21% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.