State of Michigan Retirement System Has $15.44 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

State of Michigan Retirement System trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,500 shares of the company’s stock after selling 2,300 shares during the quarter. State of Michigan Retirement System’s holdings in Airbnb were worth $15,441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its stake in shares of Airbnb by 12.6% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,017 shares of the company’s stock valued at $129,000 after acquiring an additional 114 shares during the last quarter. National Pension Service increased its holdings in Airbnb by 13.0% in the 3rd quarter. National Pension Service now owns 903,040 shares of the company’s stock worth $114,515,000 after purchasing an additional 104,018 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Airbnb by 2.8% in the third quarter. Asset Management One Co. Ltd. now owns 197,942 shares of the company’s stock valued at $25,101,000 after purchasing an additional 5,431 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Airbnb by 6.7% during the third quarter. QRG Capital Management Inc. now owns 29,417 shares of the company’s stock valued at $3,730,000 after purchasing an additional 1,857 shares in the last quarter. Finally, ASB Consultores LLC grew its holdings in shares of Airbnb by 11.5% during the third quarter. ASB Consultores LLC now owns 2,467 shares of the company’s stock worth $313,000 after purchasing an additional 255 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling

In related news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $137.00, for a total transaction of $137,000.00. Following the transaction, the chief accounting officer now directly owns 40,581 shares of the company’s stock, valued at $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $131.87, for a total transaction of $2,637,400.00. Following the transaction, the chief technology officer now owns 185,414 shares in the company, valued at approximately $24,450,544.18. This trade represents a 9.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,087,020 shares of company stock worth $295,392,297. 27.83% of the stock is owned by corporate insiders.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $141.42 on Wednesday. The stock’s 50 day moving average is $136.78 and its 200-day moving average is $132.36. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $89.17 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 3.52 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Friday, February 14th. HSBC raised shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. UBS Group increased their price objective on Airbnb from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Canaccord Genuity Group raised their target price on Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Bank of America upped their price target on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $146.48.

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.