Maryland State Retirement & Pension System Purchases 624 Shares of Airbnb, Inc. $ABNB

Maryland State Retirement & Pension System lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,670 shares of the company’s stock after acquiring an additional 624 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Airbnb were worth $2,735,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABNB. Harris Associates L P grew its stake in shares of Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after acquiring an additional 4,598,125 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock worth $334,715,000 after acquiring an additional 2,685,026 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after acquiring an additional 1,916,676 shares in the last quarter. Principal Financial Group Inc. grew its position in Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after buying an additional 1,389,251 shares during the period. Finally, Consulta Ltd bought a new position in Airbnb during the first quarter valued at about $149,325,000. Institutional investors own 80.76% of the company’s stock.

Insider Activity

In other news, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the sale, the insider directly owned 182,514 shares of the company’s stock, valued at approximately $22,850,752.80. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $123.57, for a total transaction of $29,162,520.00. Following the completion of the sale, the director directly owned 940,015 shares in the company, valued at approximately $116,157,653.55. The trade was a 20.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,430,876 shares of company stock valued at $182,694,292. Corporate insiders own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several research reports. BMO Capital Markets set a $124.00 price target on shares of Airbnb and gave the company a “market perform” rating in a research report on Thursday, August 7th. Zacks Research upgraded shares of Airbnb to a “hold” rating in a research report on Tuesday, August 12th. Wedbush reduced their price target on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Royal Bank Of Canada increased their price target on shares of Airbnb from $140.00 to $145.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Finally, Mizuho initiated coverage on shares of Airbnb in a research report on Monday, September 29th. They set an “outperform” rating and a $151.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average target price of $141.81.

Airbnb Stock Down 1.6%

Shares of NASDAQ:ABNB opened at $118.19 on Friday. The firm has a market capitalization of $73.45 billion, a PE ratio of 28.62, a P/E/G ratio of 2.19 and a beta of 1.10. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a 50-day moving average price of $124.34 and a two-hundred day moving average price of $127.27.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal 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.