Teacher Retirement System of Texas Sells 9,718 Shares of Airbnb, Inc. $ABNB

Teacher Retirement System of Texas cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 66,610 shares of the company’s stock after selling 9,718 shares during the quarter. Teacher Retirement System of Texas’ holdings in Airbnb were worth $8,088,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. UNIVEST FINANCIAL Corp lifted its position in Airbnb by 6.0% in the third quarter. UNIVEST FINANCIAL Corp now owns 25,360 shares of the company’s stock valued at $3,079,000 after purchasing an additional 1,440 shares during the last quarter. iA Global Asset Management Inc. increased its stake in shares of Airbnb by 3.9% in the third quarter. iA Global Asset Management Inc. now owns 49,689 shares of the company’s stock worth $6,033,000 after buying an additional 1,885 shares during the period. Covestor Ltd raised its holdings in Airbnb by 280.9% during the 3rd quarter. Covestor Ltd now owns 937 shares of the company’s stock valued at $114,000 after buying an additional 691 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Airbnb during the 3rd quarter valued at $3,190,000. Finally, Cornerstone Wealth Group LLC bought a new stake in Airbnb in the 3rd quarter worth $2,330,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 51,230 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the completion of the transaction, the chief executive officer owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. This trade represents a 52.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 141,063 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $121.96, for a total transaction of $17,204,043.48. Following the completion of the sale, the insider directly owned 11,520 shares in the company, valued at $1,404,979.20. This represents a 92.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,152,372 shares of company stock worth $141,414,638. 27.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ABNB shares. Jefferies Financial Group upped their price objective on shares of Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, December 5th. UBS Group set a $130.00 price target on Airbnb in a report on Tuesday, January 13th. Wedbush upped their price target on Airbnb from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, December 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Airbnb in a research report on Wednesday. Finally, Morgan Stanley boosted their target price on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $147.84.

Airbnb Stock Performance

ABNB stock opened at $132.15 on Monday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The business’s 50 day moving average price is $128.86 and its two-hundred day moving average price is $127.52. The company has a market capitalization of $81.34 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.10). The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.13 EPS. Sell-side analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.