Teacher Retirement System of Texas Acquires 57,417 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Teacher Retirement System of Texas raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 221.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,371 shares of the company's stock after acquiring an additional 57,417 shares during the quarter. Teacher Retirement System of Texas' holdings in Airbnb were worth $9,959,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in shares of Airbnb during the 4th quarter worth approximately $1,445,000. Ritholtz Wealth Management grew its stake 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 holdings in shares of Airbnb by 0.4% in the 1st 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 during the last quarter. Spire Wealth Management boosted its holdings in shares of Airbnb by 40.1% in the 1st quarter. Spire Wealth Management now owns 909 shares of the company's stock valued at $109,000 after buying an additional 260 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Airbnb by 43.0% in the 4th quarter. Jones Financial Companies Lllp now owns 7,166 shares of the company's stock valued at $942,000 after buying an additional 2,155 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 8,000 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the sale, the chief executive officer owned 40,800 shares of the company's stock, valued at approximately $5,235,864. This represents a 16.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total value of $826,750.00. Following the sale, the chief financial officer directly owned 467,611 shares in the company, valued at $61,855,583.08. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,607,528 shares of company stock worth $201,688,571. Company insiders own 27.91% of the company's stock.

Analysts Set New Price Targets

ABNB has been the subject of several recent analyst reports. Citigroup cut their price objective on Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a report on Monday, May 5th. Jefferies Financial Group raised Airbnb from a "hold" rating to a "buy" rating and increased their price objective for the company from $165.00 to $185.00 in a report on Monday, March 10th. Wells Fargo & Company raised their price target on Airbnb from $100.00 to $104.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. Barclays cut their price target on Airbnb from $120.00 to $103.00 and set an "underweight" rating for the company in a report on Friday, May 2nd. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $141.23.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $136.50 on Friday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The business's fifty day moving average price is $131.74 and its 200-day moving average price is $130.50. The stock has a market capitalization of $85.50 billion, a PE ratio of 34.47, a P/E/G ratio of 2.56 and a beta of 1.13.

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

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.

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