State Board of Administration of Florida Retirement System Has $71.26 Million Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

State Board of Administration of Florida Retirement System lessened its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 431,999 shares of the company’s stock after selling 18,161 shares during the period. State Board of Administration of Florida Retirement System owned 0.07% of Airbnb worth $71,263,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Airbnb in the 4th quarter worth $619,584,000. Jennison Associates LLC lifted its position in Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after buying an additional 3,899,179 shares in the last quarter. Edgewood Management LLC lifted its position in Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after buying an additional 2,135,529 shares in the last quarter. Alphinity Investment Management Pty Ltd lifted its position in Airbnb by 48.3% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after buying an additional 813,074 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Airbnb by 12,298.0% during the 4th quarter. International Assets Investment Management LLC now owns 764,835 shares of the company’s stock worth $1,041,250,000 after buying an additional 758,666 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity

In other news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the completion of the transaction, the chief accounting officer now owns 44,043 shares of the company’s stock, valued at $6,424,992.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $161.02, for a total transaction of $96,612.00. Following the completion of the transaction, the chief technology officer now owns 220,504 shares of the company’s stock, valued at $35,505,554.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO David C. Bernstein sold 1,000 shares of Airbnb stock in a transaction on Monday, July 15th. The stock was sold at an average price of $145.88, for a total transaction of $145,880.00. Following the transaction, the chief accounting officer now directly owns 44,043 shares of the company’s stock, valued at approximately $6,424,992.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 540,707 shares of company stock valued at $80,391,341. Insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Tigress Financial boosted their price target on shares of Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. B. Riley began coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $145.00 target price on shares of Airbnb in a report on Thursday, May 9th. UBS Group upped their target price on shares of Airbnb from $143.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Finally, Truist Financial upped their target price on shares of Airbnb from $131.00 to $134.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Airbnb currently has an average rating of “Hold” and a consensus price target of $152.44.

Airbnb Price Performance

NASDAQ:ABNB traded down $0.09 on Thursday, hitting $147.91. The company had a trading volume of 1,852,386 shares, compared to its average volume of 4,337,710. The firm has a 50 day moving average of $147.97 and a two-hundred day moving average of $151.77. The stock has a market capitalization of $95.26 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.87 and a beta of 1.18. Airbnb, Inc. has a 52 week low of $113.24 and a 52 week high of $170.10. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.18. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. On average, research analysts anticipate that Airbnb, Inc. will post 4.65 earnings per share for the current year.

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.