Airbnb, Inc. (NASDAQ:ABNB) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 105.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,241 shares of the company's stock after buying an additional 36,539 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Airbnb were worth $8,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABNB. NewEdge Wealth LLC raised its position in shares of Airbnb by 12.8% in the 4th quarter. NewEdge Wealth LLC now owns 14,674 shares of the company's stock worth $1,928,000 after purchasing an additional 1,668 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Airbnb in the 4th quarter worth about $44,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Airbnb by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 171,600 shares of the company's stock worth $22,550,000 after purchasing an additional 3,400 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Airbnb by 1,171.2% in the 4th quarter. Proficio Capital Partners LLC now owns 149,502 shares of the company's stock worth $19,646,000 after purchasing an additional 137,741 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Airbnb by 17.2% in the 4th quarter. QRG Capital Management Inc. now owns 34,489 shares of the company's stock worth $4,532,000 after purchasing an additional 5,072 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Stock Performance

Shares of ABNB traded up $0.80 during mid-day trading on Friday, hitting $134.52. 4,929,624 shares of the stock were exchanged, compared to its average volume of 5,039,164. The company has a market cap of $84.26 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.52 and a beta of 1.14. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The firm has a 50-day moving average of $130.00 and a two-hundred day moving average of $130.39.

Airbnb (NASDAQ:ABNB - Get Free Report) last released 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 the consensus estimate of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. On average, sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Phillip Securities downgraded Airbnb from a "hold" rating to a "moderate sell" rating in a report on Friday, May 9th. Susquehanna reduced their price objective on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a report on Monday, May 5th. Evercore ISI reduced their price objective on Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Piper Sandler reduced their price objective on Airbnb from $145.00 to $132.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Finally, Barclays reduced 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 assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $141.23.

Insiders Place Their Bets

In other news, insider Nathan Blecharczyk sold 2,245 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $134.03, for a total value of $300,897.35. Following the sale, the insider now directly owns 188,173 shares in the company, valued at approximately $25,220,827.19. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the completion of the sale, the director now owns 944,015 shares in the company, valued at $122,212,181.90. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,646,087 shares of company stock worth $206,326,144 over the last quarter. Company insiders own 27.91% of the company's stock.

Airbnb Profile

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.