Airbnb, Inc. $ABNB Stake Trimmed by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Airbnb, Inc. by 2.2% during the 2nd quarter, now holding 173,982 shares valued at approximately $23 million.
• Several hedge funds significantly increased their positions in Airbnb during the first quarter, with Harris Associates L P boosting its stake by 86.0% and Pacer Advisors increasing its holdings by an astounding 2,297.4%.
• Insider trading activity revealed that Director Joseph Gebbia sold 236,000 shares of Airbnb, resulting in a almost total divestment of his ownership, while insiders collectively sold over 1.4 million shares in the past ninety days.

Public Employees Retirement System of Ohio reduced its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,982 shares of the company's stock after selling 3,861 shares during the period. Public Employees Retirement System of Ohio's holdings in Airbnb were worth $23,025,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Harris Associates L P increased its stake in Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock valued at $1,188,024,000 after buying an additional 4,598,125 shares during the period. Pacer Advisors Inc. increased 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 worth $334,715,000 after acquiring an additional 2,685,026 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Airbnb by 81.0% during the first 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. boosted 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 purchasing an additional 1,389,251 shares during the last quarter. Finally, Consulta Ltd purchased a new position in Airbnb in the first quarter valued at about $149,325,000. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Activity

In other news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $125.36, for a total transaction of $29,584,960.00. Following the completion of the sale, the director owned 15 shares in the company, valued at $1,880.40. The trade was a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nathan Blecharczyk sold 2,246 shares of Airbnb stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider directly owned 182,514 shares of the company's stock, valued at $22,850,752.80. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,437,726 shares of company stock valued at $186,661,639 in the last ninety days. 27.91% of the stock is currently owned by corporate insiders.

Airbnb Trading Down 1.1%

Shares of ABNB stock opened at $121.75 on Friday. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The company has a market capitalization of $75.66 billion, a P/E ratio of 29.48, a P/E/G ratio of 2.25 and a beta of 1.13. The stock has a 50 day moving average of $128.01 and a two-hundred day moving average of $127.66.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Airbnb's revenue was up 12.7% on a year-over-year basis. Sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ABNB shares. Wedbush dropped their price objective on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Morgan Stanley cut their target price on Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Royal Bank Of Canada increased their price objective on Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Finally, Citizens Jmp upgraded Airbnb to a "hold" rating in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $141.19.

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.

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