New York State Common Retirement Fund Sells 16,000 Shares of Airbnb, Inc. (NASDAQ:ABNB)

New York State Common Retirement Fund trimmed its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 522,675 shares of the company's stock after selling 16,000 shares during the period. New York State Common Retirement Fund owned 0.08% of Airbnb worth $62,439,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Airbnb in the 4th quarter valued at $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb during the 4th quarter valued at $28,000. Stonebridge Financial Group LLC raised its position in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after buying an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after buying an additional 174 shares in the last quarter. Finally, Graney & King LLC purchased a new stake in shares of Airbnb during the 4th quarter valued at $32,000. 80.76% of the stock is owned by institutional investors.

Airbnb Price Performance

ABNB stock traded up $2.59 during trading on Thursday, hitting $139.30. 3,494,679 shares of the stock traded hands, compared to its average volume of 5,034,177. The stock has a market cap of $87.26 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 2.56 and a beta of 1.13. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm's 50 day moving average is $134.10 and its two-hundred day moving average is $130.74.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The firm had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays lifted their target price on shares of Airbnb from $103.00 to $104.00 and gave the stock an "underweight" rating in a research report on Wednesday. Morgan Stanley lifted their target price on shares of Airbnb from $125.00 to $130.00 and gave the stock an "underweight" rating in a research report on Thursday, April 17th. Benchmark decreased their target price on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. B. Riley decreased their target price on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, 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. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Airbnb presently has an average rating of "Hold" and an average target price of $141.50.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $136.40, for a total value of $32,190,400.00. Following the completion of the sale, the director directly owned 708,015 shares in the company, valued at approximately $96,573,246. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $137.21, for a total transaction of $82,326.00. Following the transaction, the chief technology officer owned 210,977 shares in the company, valued at $28,948,154.17. This represents a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,629,043 shares of company stock valued at $210,678,753. Corporate 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.