Strs Ohio Makes New $11.44 Million Investment in Airbnb, Inc. $ABNB

Key Points

• Strs Ohio has acquired a new stake in Airbnb, Inc. by purchasing 95,763 shares valued at approximately $11.4 million.
• Insider trading activity includes Director Joseph Gebbia selling 236,000 shares for over $30 million, reducing his ownership stake by 14.32%.
• Wall Street analysts have mixed ratings for Airbnb, with an average price target of $141.68 and a consensus rating of "Hold".

Strs Ohio bought a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 95,763 shares of the company's stock, valued at approximately $11,440,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in Airbnb by 4.0% in the fourth quarter. Janus Henderson Group PLC now owns 56,321 shares of the company's stock worth $7,402,000 after purchasing an additional 2,190 shares during the last quarter. Quadcap Wealth Management LLC purchased a new position in shares of Airbnb during the fourth quarter valued at approximately $423,000. Raiffeisen Bank International AG bought a new stake in Airbnb in the fourth quarter worth $493,000. Strive Asset Management LLC bought a new position in Airbnb in the 4th quarter worth about $501,000. Finally, State of Wyoming grew its position in Airbnb by 123.2% during the 4th quarter. State of Wyoming now owns 500 shares of the company's stock valued at $66,000 after purchasing an additional 276 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Down 1.8%

Shares of Airbnb stock traded down $2.18 during trading hours on Monday, reaching $120.37. 7,056,575 shares of the stock traded hands, compared to its average volume of 4,155,001. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The firm has a market capitalization of $74.80 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 2.24 and a beta of 1.13. The company has a 50 day moving average price of $130.13 and a 200 day moving average price of $128.29.

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. The company had revenue of $3.10 billion for 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. Sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the completion of the sale, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction on Thursday, July 24th. The stock was 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 of the company's stock, valued at $6,051,898. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,438,326 shares of company stock worth $188,798,155. 27.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BTIG Research reissued a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Morgan Stanley reduced their target price on Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. Royal Bank Of Canada boosted their price target on Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Truist Financial dropped their price objective on Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research report on Wednesday, September 3rd. Finally, Citizens Jmp upgraded Airbnb to a "hold" rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $141.68.

About Airbnb

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.