State of Alaska Department of Revenue Sells 2,210 Shares of Airbnb, Inc. $ABNB

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Airbnb by 4.4% in Q2, selling 2,210 shares and retaining 48,535 shares valued at approximately $6.42 million.
• Airbnb CFO Elinor Mertz sold 6,250 shares for about $849,125, indicating a 1.34% decrease in their ownership, while other insiders also shed shares recently.
• Despite a strong earnings report with $1.03 EPS and a year-over-year revenue increase of 12.7%, several analysts have downgraded their price targets for Airbnb stock.

State of Alaska Department of Revenue cut its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,535 shares of the company's stock after selling 2,210 shares during the quarter. State of Alaska Department of Revenue's holdings in Airbnb were worth $6,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Geneos Wealth Management Inc. lifted its position in shares of Airbnb by 1.6% during the first quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company's stock worth $604,000 after purchasing an additional 78 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after purchasing an additional 80 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after purchasing an additional 83 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Airbnb by 31.6% during the first quarter. Rakuten Securities Inc. now owns 379 shares of the company's stock worth $45,000 after purchasing an additional 91 shares during the last quarter. Finally, Trivium Point Advisory LLC lifted its position in shares of Airbnb by 3.0% during the first quarter. Trivium Point Advisory LLC now owns 3,408 shares of the company's stock worth $407,000 after purchasing an additional 99 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Activity

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the transaction, the chief financial officer directly owned 461,361 shares in the company, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the completion of the transaction, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. This represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,437,726 shares of company stock valued at $186,661,639. Company insiders own 27.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ABNB shares. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Truist Financial decreased their price objective on Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a report on Wednesday, September 3rd. UBS Group decreased their price objective on Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the company a "market perform" rating in a report on Thursday, August 7th. Finally, Wedbush decreased their price objective on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have given a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $141.46.

Airbnb Stock Performance

Shares of Airbnb stock opened at $123.70 on Monday. The company has a market capitalization of $76.87 billion, a PE ratio of 29.95, a P/E/G ratio of 2.26 and a beta of 1.13. The company has a 50-day simple moving average of $127.69 and a two-hundred day simple moving average of $127.71. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

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