TIAA Trust National Association Buys Shares of 99,761 Airbnb, Inc. (NASDAQ:ABNB)

TIAA Trust National Association bought a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 99,761 shares of the company’s stock, valued at approximately $11,917,000.

Several other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp raised its stake in shares of Airbnb by 8.4% in the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company’s stock valued at $564,647,000 after buying an additional 331,607 shares during the period. Renaissance Technologies LLC raised its stake in shares of Airbnb by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock valued at $548,683,000 after buying an additional 558,856 shares during the period. Principal Financial Group Inc. raised its stake in shares of Airbnb by 74.4% in 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. Two Sigma Advisers LP raised its stake in shares of Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after buying an additional 2,577,000 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Airbnb by 2,297.4% in the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after buying an additional 2,685,026 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABNB. Cantor Fitzgerald restated an “underweight” rating and issued a $100.00 target price on shares of Airbnb in a research note on Wednesday, May 14th. Wedbush lowered Airbnb from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $150.00 to $135.00 in a research note on Friday, May 2nd. Citigroup decreased their price objective on Airbnb from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Evercore ISI decreased their price objective on Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group decreased their price objective on Airbnb from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $142.10.

Insider Buying and Selling

In related news, CAO David C. Bernstein sold 5,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the sale, the chief accounting officer directly owned 42,619 shares in the company, valued at $6,051,898. This represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the sale, the chief financial officer owned 461,361 shares of the company’s stock, valued at $62,680,505.46. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,655,558 shares of company stock valued at $219,678,073. 27.91% of the stock is owned by insiders.

Airbnb Price Performance

NASDAQ:ABNB opened at $128.02 on Friday. The business has a 50 day moving average of $135.13 and a 200 day moving average of $131.21. The company has a market capitalization of $80.19 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 2.38 and a beta of 1.13. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

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