Kentucky Retirement Systems Insurance Trust Fund Acquires Shares of 12,451 Airbnb, Inc. (NASDAQ:ABNB)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,451 shares of the company's stock, valued at approximately $1,487,000.

Several other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC increased its stake in Airbnb by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock worth $1,244,514,000 after buying an additional 72,991 shares during the period. Clearbridge Investments LLC boosted its holdings in Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the period. Northern Trust Corp grew its stake in Airbnb by 8.4% during the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock worth $564,647,000 after purchasing an additional 331,607 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after purchasing an additional 558,856 shares during the period. Finally, Norges Bank purchased a new position in shares of Airbnb in the 4th quarter valued at about $433,374,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ABNB. UBS Group cut their target price on shares of Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company increased their price objective on shares of Airbnb from $100.00 to $104.00 and gave the company an "underweight" rating in a research report on Friday, May 2nd. Cantor Fitzgerald reaffirmed an "underweight" rating and set a $100.00 price objective on shares of Airbnb in a research report on Wednesday, May 14th. Morgan Stanley increased their target price on Airbnb from $125.00 to $130.00 and gave the company an "underweight" rating in a report on Thursday, April 17th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $141.23.

Airbnb Price Performance

Airbnb stock traded up $1.62 during mid-day trading on Tuesday, hitting $132.15. 5,042,695 shares of the company were exchanged, compared to its average volume of 5,028,618. 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 $82.78 billion, a P/E ratio of 33.37, a PEG ratio of 2.44 and a beta of 1.14. The business's 50 day simple moving average is $128.80 and its two-hundred day simple moving average is $130.50.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced 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). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the firm posted $0.41 EPS. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CEO Brian Chesky sold 38,459 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $120.44, for a total value of $4,632,001.96. Following the transaction, the chief executive officer now owns 11,731,685 shares in the company, valued at $1,412,964,141.40. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $119.67, for a total value of $83,769.00. Following the sale, the chief technology officer now owns 170,019 shares of the company's stock, valued at $20,346,173.73. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,410,087 shares of company stock worth $175,773,584. Insiders own 27.83% of the company's stock.

Airbnb Company 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.