Airbnb, Inc. $ABNB Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System dramatically increased its Airbnb stake by 13,162.3% in the second quarter, holding 91.25 million shares worth approximately $13.06 billion, or 15.24% of the company. Institutional investors and hedge funds collectively own 80.76% of Airbnb.
• Airbnb insiders sold $375.0 million worth of shares over the past three months, including sales by co-founder Nathan Blecharczyk and Chief Accounting Officer David Bernstein. Insiders retain a 27.21% ownership stake.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $179.10. Airbnb recently exceeded quarterly earnings and revenue estimates, reporting $1.37 EPS and $3.61 billion in revenue, up 16.3% year over year.

California State Teachers Retirement System lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 13,162.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,253,439 shares of the company's stock after buying an additional 90,565,372 shares during the quarter. California State Teachers Retirement System owned 15.24% of Airbnb worth $13,058,367,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harris Associates L P grew its position in Airbnb by 21.0% in the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company's stock valued at $2,537,205,000 after acquiring an additional 3,240,477 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Airbnb by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company's stock valued at $1,368,338,000 after purchasing an additional 47,966 shares during the period. AQR Capital Management LLC grew its holdings in Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company's stock valued at $917,845,000 after purchasing an additional 2,492,847 shares in the last quarter. Clearbridge Investments LLC increased its stake in Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company's stock worth $824,356,000 after buying an additional 216,455 shares during the period. Finally, Wellington Management Group LLP increased its stake in Airbnb by 80.6% during the 2nd quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company's stock worth $827,929,000 after buying an additional 2,581,539 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 13,615 shares of the company's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $187.27, for a total transaction of $2,549,681.05. Following the sale, the insider owned 20,567 shares in the company, valued at $3,851,582.09. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO David Bernstein sold 5,224 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $182.49, for a total value of $953,327.76. Following the transaction, the chief accounting officer directly owned 48,513 shares in the company, valued at approximately $8,853,137.37. This represents a 9.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,288,689 shares of company stock valued at $374,988,733 over the last three months. 27.21% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada set a $165.00 price objective on shares of Airbnb in a research report on Monday, August 10th. Phillip Securities lowered Airbnb from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, August 11th. Weiss Ratings raised Airbnb from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Susquehanna raised their price objective on Airbnb from $170.00 to $200.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Finally, Truist Financial lifted their price objective on Airbnb from $129.00 to $134.00 and gave the stock a "hold" rating in a report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $179.10.

Airbnb Price Performance

Shares of ABNB stock opened at $174.54 on Wednesday. The firm has a market cap of $104.51 billion, a P/E ratio of 39.67, a P/E/G ratio of 2.11 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $193.45. The firm has a fifty day moving average of $164.35 and a two-hundred day moving average of $144.88.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The company's revenue for the quarter was up 16.3% on a year-over-year basis. As a group, research analysts anticipate that Airbnb, Inc. will post 5.23 earnings per share for the current fiscal year.

Airbnb Company Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and other service providers. Through its platform and mobile applications, users can search for, book and review a broad range of lodging options, including private homes, apartments, rooms and other distinctive properties.

The company also offers Airbnb Experiences, which enables guests to discover and book activities hosted by local experts. In addition, Airbnb has expanded into related travel services, including services designed to support hosts and help them manage listings, reservations and guest relationships.

Founded in 2008 by Brian Chesky, Joe Gebbia and Nathan Blecharczyk, Airbnb serves travelers and hosts across a broad international market, with listings and activities available in destinations around the world.

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