Maryland State Retirement & Pension System Sells 3,298 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• The Maryland State Retirement & Pension System sold 3,298 shares of Airbnb, bringing its total holdings to 20,046 shares, valued at approximately $2.4 million.
• Airbnb reported a quarterly earnings per share of $1.03, exceeding estimates, with revenues of $3.10 billion, a 12.7% increase from the previous year.
• Analysts have mixed ratings on Airbnb, with a consensus rating of "Hold" and a target price averaging around $143.59.

Maryland State Retirement & Pension System decreased its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 14.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,046 shares of the company's stock after selling 3,298 shares during the period. Maryland State Retirement & Pension System's holdings in Airbnb were worth $2,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management boosted its stake in shares of Airbnb by 10.0% during the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock valued at $636,000 after buying an additional 484 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Airbnb by 0.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock valued at $6,115,000 after buying an additional 228 shares during the period. Spire Wealth Management boosted its stake in shares of Airbnb by 40.1% during the 1st quarter. Spire Wealth Management now owns 909 shares of the company's stock valued at $109,000 after buying an additional 260 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Airbnb by 366.3% during the 1st quarter. Golden State Wealth Management LLC now owns 886 shares of the company's stock valued at $106,000 after purchasing an additional 696 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Airbnb by 39.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company's stock valued at $8,750,000 after purchasing an additional 20,753 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Wall Street Analyst Weigh In

ABNB has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an "underweight" rating and issued a $100.00 target price on shares of Airbnb in a report on Wednesday, May 14th. Susquehanna decreased their price target on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research report on Monday, May 5th. BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Citigroup decreased their target price on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Wedbush reduced their price target on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $142.72.

Insider Activity

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the sale, the chief accounting officer owned 42,619 shares in the company, valued at $6,051,898. This trade represents a 10.50% decrease in their ownership of the stock. 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 on Monday, July 7th. The shares were sold at an average price of $135.86, for a total transaction of $849,125.00. Following the completion of the sale, the chief financial officer owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,671,023 shares of company stock worth $223,195,427. 27.83% of the stock is owned by insiders.

Airbnb Stock Up 1.7%

ABNB traded up $2.12 during trading hours on Wednesday, hitting $123.73. 3,481,214 shares of the company's stock were exchanged, compared to its average volume of 5,321,810. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The stock's 50-day moving average is $134.51 and its two-hundred day moving average is $130.82. The stock has a market cap of $77.51 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 2.16 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly 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. The firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

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.