Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in Airbnb, Inc. (NASDAQ:ABNB) by 34.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 162,111 shares of the company’s stock after selling 85,158 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Airbnb were worth $24,581,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Airbnb in the 4th quarter worth about $619,584,000. Jennison Associates LLC boosted its position in shares of Airbnb by 57.9% during the first 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 during the period. Price T Rowe Associates Inc. MD grew its holdings in Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after buying an additional 3,558,178 shares in the last quarter. Edgewood Management LLC increased its position in Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after acquiring an additional 2,135,529 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after acquiring an additional 1,684,646 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Performance

Shares of Airbnb stock opened at $117.36 on Friday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock has a market cap of $75.59 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The business has a fifty day simple moving average of $128.84 and a 200-day simple moving average of $146.05.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on ABNB shares. Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research note on Monday, August 26th. JPMorgan Chase & Co. decreased their target price on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. B. Riley dropped their price target on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group reduced their price target on shares of Airbnb from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Finally, BMO Capital Markets lowered their price objective on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $134.48.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 5,442 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $150.00, for a total value of $816,300.00. Following the transaction, the director now owns 42,087 shares in the company, valued at approximately $6,313,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $149.90, for a total transaction of $89,940.00. Following the completion of the sale, the chief technology officer now directly owns 209,974 shares in the company, valued at approximately $31,475,102.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 5,442 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $150.00, for a total value of $816,300.00. Following the completion of the transaction, the director now owns 42,087 shares in the company, valued at approximately $6,313,050. The disclosure for this sale can be found here. Over the last three months, insiders sold 449,932 shares of company stock worth $67,352,949. 27.83% of the stock is owned by company insiders.

Airbnb 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.