Public Sector Pension Investment Board Boosts Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• The Public Sector Pension Investment Board increased its stake in Airbnb, Inc. by 10.8%, owning 58,816 shares valued at $7,026,000 after acquiring an additional 5,717 shares.
• CEO Brian Chesky and CFO Elinor Mertz both sold significant amounts of stock, reducing their ownership by 16.39% and 1.32% respectively, while insiders collectively sold 1.67 million shares in recent months.
• Analysts have cut their price targets for Airbnb, with ratings ranging from sell to buy, leading to a consensus rating of "Hold" and an average target price of $142.72.

Public Sector Pension Investment Board grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 10.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,816 shares of the company's stock after buying an additional 5,717 shares during the quarter. Public Sector Pension Investment Board's holdings in Airbnb were worth $7,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ABNB. Park Square Financial Group LLC purchased a new stake in shares of Airbnb in the fourth quarter worth approximately $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb in the fourth quarter worth approximately $28,000. Stonebridge Financial Group LLC raised its stake in shares of Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Finally, SouthState Corp lifted its position in shares of Airbnb by 216.1% during the first quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after purchasing an additional 201 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABNB. Citigroup dropped their price target 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. BMO Capital Markets set a $124.00 price target on shares of Airbnb and gave the company a "market perform" rating in a research report on Thursday, August 7th. Truist Financial reissued a "sell" rating and set a $106.00 price target (down from $112.00) on shares of Airbnb in a research report on Friday, May 30th. UBS Group dropped their price target on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, Wells Fargo & Company set a $110.00 price target on shares of Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $142.72.

Airbnb Stock Up 0.4%

NASDAQ ABNB traded up $0.51 during trading hours on Tuesday, reaching $126.00. 3,712,199 shares of the company were exchanged, compared to its average volume of 5,314,352. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The business's 50 day simple moving average is $133.49 and its 200-day simple moving average is $130.65. The stock has a market capitalization of $78.30 billion, a P/E ratio of 30.51, a P/E/G ratio of 2.28 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the company posted $0.86 earnings per share. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the transaction, the chief technology officer owned 209,777 shares in the company, valued at $29,240,816.03. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $129.71, for a total transaction of $30,611,560.00. Following the completion of the transaction, the director owned 236,015 shares of the company's stock, valued at $30,613,505.65. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,454,493 shares of company stock worth $194,497,481. 27.83% of the stock is currently owned by corporate insiders.

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.