Vestcor Inc Has $1.01 Million Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Vestcor Inc reduced its holdings in Airbnb, Inc. by 38.5%, selling 5,263 shares and now owning 8,421 shares worth approximately $1,006,000.
• Airbnb's CFO and CTO sold shares in recent transactions, with insiders having sold a total of 1,655,558 shares valued at about $219.7 million over the last 90 days.
• Wall Street analysts currently hold a mixed view on Airbnb, with a consensus rating of "Hold" and an average price target of $142.10, reflecting various sentiment across research firms.

Vestcor Inc decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 38.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,421 shares of the company's stock after selling 5,263 shares during the quarter. Vestcor Inc's holdings in Airbnb were worth $1,006,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ABNB. O Shaughnessy Asset Management LLC grew its holdings in shares of Airbnb by 2.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 26,464 shares of the company's stock valued at $3,478,000 after purchasing an additional 604 shares during the last quarter. OLD Mission Capital LLC bought a new position in shares of Airbnb during the fourth quarter valued at approximately $347,000. Huntington National Bank grew its holdings in shares of Airbnb by 13.5% during the fourth quarter. Huntington National Bank now owns 2,719 shares of the company's stock valued at $357,000 after purchasing an additional 324 shares during the last quarter. Nicolet Advisory Services LLC bought a new position in shares of Airbnb during the fourth quarter valued at approximately $212,000. Finally, Westpac Banking Corp grew its holdings in shares of Airbnb by 16.9% during the fourth quarter. Westpac Banking Corp now owns 18,727 shares of the company's stock valued at $2,461,000 after purchasing an additional 2,712 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABNB. B. Riley lowered their target price on Airbnb from $145.00 to $140.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company increased their price objective on Airbnb from $104.00 to $111.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Susquehanna decreased their price objective on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a report on Monday, May 5th. Canaccord Genuity Group decreased their price objective on Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Morgan Stanley increased their price objective on Airbnb from $125.00 to $130.00 and gave the stock an "underweight" rating in a report on Monday, July 21st. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $142.10.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $139.40, for a total value of $32,898,400.00. Following the sale, the director directly owned 1,180,015 shares of the company's stock, valued at approximately $164,494,091. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 8,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $128.33, for a total value of $1,026,640.00. Following the completion of the sale, the chief executive officer directly owned 40,800 shares in the company, valued at approximately $5,235,864. This represents a 16.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,649,308 shares of company stock valued at $218,906,636 over the last three months. 27.83% of the stock is currently owned by insiders.

Airbnb Stock Performance

Shares of NASDAQ ABNB traded up $2.94 during mid-day trading on Monday, reaching $130.96. The company had a trading volume of 5,270,967 shares, compared to its average volume of 3,508,969. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock has a market capitalization of $82.03 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. The stock's 50 day moving average is $135.13 and its 200-day moving average is $131.21.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company posted $0.41 earnings per share. The company's revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current 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.