Kentucky Retirement Systems Raises Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Kentucky Retirement Systems increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.6% in the 2nd quarter, Holdings Channel reports. The firm owned 33,270 shares of the company’s stock after purchasing an additional 193 shares during the period. Kentucky Retirement Systems’ holdings in Airbnb were worth $5,045,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ABNB. Jennison Associates LLC increased 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 purchasing an additional 3,899,179 shares in the last quarter. 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 valued at $958,279,000 after buying an additional 3,558,178 shares in the last quarter. Edgewood Management LLC grew its holdings 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 buying an additional 2,135,529 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Airbnb by 19,052.8% in 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 buying an additional 1,684,646 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new stake in Airbnb in the 1st quarter valued at $265,292,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the transaction, the chief financial officer now owns 537,072 shares in the company, valued at approximately $64,448,640. The disclosure for this sale can be found here. Insiders have sold 685,451 shares of company stock worth $95,552,289 in the last quarter. 27.83% of the stock is owned by insiders.

Airbnb Trading Up 5.2 %

ABNB opened at $128.75 on Friday. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company has a market cap of $82.92 billion, a P/E ratio of 17.24, a PEG ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The business’s 50-day simple moving average is $126.26 and its 200-day simple moving average is $145.03.

Airbnb (NASDAQ:ABNB) last released 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 net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts expect that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the subject of several analyst reports. Morgan Stanley upped their target price on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Jefferies Financial Group dropped their target price on Airbnb from $125.00 to $120.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their target price on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Argus cut Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $134.17.

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.