New York State Teachers Retirement System Sells 2,948 Shares of Airbnb, Inc. $ABNB

Key Points

• The New York State Teachers Retirement System sold 2,948 shares of Airbnb, reducing its stake by 0.9%, leaving it with approximately 329,496 shares valued at $43.6 million.
• Insider Nathan Blecharczyk sold 2,246 shares of Airbnb, while CFO Elinor Mertz sold 4,630 shares, indicating notable insider selling activity with insiders having sold over 1.66 million shares in the past three months.
• Airbnb's stock is currently rated average by analysts, with a mix of "Buy" and "Hold" ratings, and the company's latest market performance shows a price target adjustment from several brokerages.

New York State Teachers Retirement System decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 329,496 shares of the company's stock after selling 2,948 shares during the period. New York State Teachers Retirement System owned about 0.05% of Airbnb worth $43,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ABNB. GAMMA Investing LLC boosted its position in shares of Airbnb by 98.9% during the 1st quarter. GAMMA Investing LLC now owns 5,115 shares of the company's stock worth $611,000 after acquiring an additional 2,543 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position 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 worth $8,750,000 after acquiring an additional 20,753 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Airbnb by 10.0% during the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after acquiring an additional 484 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Airbnb by 0.4% in the first 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 in the last quarter. Finally, Sagespring Wealth Partners LLC boosted its position in Airbnb by 81.2% in the first quarter. Sagespring Wealth Partners LLC now owns 3,909 shares of the company's stock valued at $467,000 after buying an additional 1,752 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Activity at Airbnb

In other news, insider Nathan Blecharczyk sold 2,246 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the transaction, the insider owned 182,514 shares in the company, valued at approximately $22,850,752.80. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 4,630 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the transaction, the chief financial officer owned 444,070 shares in the company, valued at $57,027,469.40. This represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,666,876 shares of company stock worth $210,819,940 over the last three months. 27.91% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABNB. BTIG Research restated a "neutral" rating on shares of Airbnb in a research report on Tuesday, October 7th. Jefferies Financial Group cut their price target on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Wells Fargo & Company set a $110.00 price target on shares of Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. Royal Bank Of Canada lifted their price target on shares of Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Airbnb to a "hold" rating in a report on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $141.81.

Airbnb Stock Down 1.1%

ABNB stock opened at $122.89 on Friday. The firm has a market cap of $76.37 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.27 and a beta of 1.10. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The company's fifty day simple moving average is $123.89 and its 200 day simple moving average is $127.24.

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

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.

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