New York State Teachers Retirement System Has $39.71 Million Holdings in Airbnb, Inc. (NASDAQ:ABNB)

New York State Teachers Retirement System cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 332,444 shares of the company’s stock after selling 21,584 shares during the period. New York State Teachers Retirement System owned approximately 0.05% of Airbnb worth $39,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in shares of Airbnb during the 4th quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in Airbnb during the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC raised its holdings in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after buying an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC lifted its stake in Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after buying an additional 174 shares in the last quarter. Finally, Graney & King LLC bought a new position in Airbnb in the fourth quarter valued at approximately $32,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABNB has been the subject of several research reports. Jefferies Financial Group raised shares of Airbnb from a “hold” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on Airbnb from $160.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Tigress Financial lifted their price target on Airbnb from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, March 14th. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a research report on Wednesday, May 28th. Finally, Barclays decreased their price objective on Airbnb from $120.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, May 2nd. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $141.23.

Airbnb Stock Performance

Shares of ABNB stock opened at $132.34 on Tuesday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The stock has a market cap of $82.90 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.52 and a beta of 1.14. The firm’s 50-day moving average is $130.41 and its 200-day moving average is $130.35.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the company earned $0.41 EPS. Airbnb’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total value of $30,363,760.00. Following the transaction, the director directly owned 1,416,015 shares of the company’s stock, valued at $182,184,489.90. This represents a 14.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Chesky sold 8,000 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the sale, the chief executive officer owned 40,800 shares of the company’s stock, valued at approximately $5,235,864. This represents a 16.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,607,528 shares of company stock valued at $201,688,571. 27.83% of the stock is owned by insiders.

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.