TIAA Trust National Association Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• TIAA Trust National Association purchased 99,761 shares of Airbnb, Inc., valued at approximately $11.9 million, during the 1st quarter, highlighting significant institutional investment interest in the company.
• Several hedge funds increased their stakes in Airbnb significantly, with Pacer Advisors Inc. raising its stake by 2,297.4%, indicating a growing confidence among institutional investors.
• Wall Street analysts have varying ratings on Airbnb, with a consensus rating of "Hold" and a target price of $142.10, reflecting differing perspectives on the company's growth potential.

TIAA Trust National Association acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 99,761 shares of the company's stock, valued at approximately $11,917,000.

Other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in Airbnb in the 4th quarter worth approximately $1,445,000. Ritholtz Wealth Management lifted its holdings in Airbnb by 10.0% in the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after buying an additional 484 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Airbnb by 0.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock worth $6,115,000 after buying an additional 228 shares in the last quarter. Spire Wealth Management lifted its holdings in Airbnb by 40.1% in the 1st quarter. Spire Wealth Management now owns 909 shares of the company's stock worth $109,000 after buying an additional 260 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Airbnb by 39.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company's stock worth $8,750,000 after buying an additional 20,753 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ABNB. Citigroup cut their price objective on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Piper Sandler cut their price objective on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Royal Bank Of Canada cut their target price on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, BNP Paribas raised Airbnb to a "hold" rating in a report on Wednesday, July 16th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Airbnb has an average rating of "Hold" and an average price target of $142.10.

Insider Buying and Selling at Airbnb

In related news, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were 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 in the company, valued at approximately $6,051,898. This represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $139.39, for a total transaction of $83,634.00. Following the completion of the sale, the chief technology officer owned 209,777 shares of the company's stock, valued at approximately $29,240,816.03. The trade was a 0.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,435,023 shares of company stock valued at $192,583,867. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Price Performance

Shares of Airbnb stock traded up $0.64 on Tuesday, hitting $131.60. The company had a trading volume of 651,017 shares, compared to its average volume of 5,144,841. The business has a 50-day simple moving average of $135.22 and a 200-day simple moving average of $131.18. The company has a market cap of $82.43 billion, a PE ratio of 33.31, a PEG ratio of 2.38 and a beta of 1.13. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

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.