Louisiana State Employees Retirement System Makes New Investment in Airbnb, Inc. $ABNB

Louisiana State Employees Retirement System purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 49,400 shares of the company’s stock, valued at approximately $6,238,000.

A number of other institutional investors have also modified their holdings of ABNB. Harris Associates L P increased its position in shares of Airbnb by 21.0% during the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock worth $2,537,205,000 after purchasing an additional 3,240,477 shares in the last quarter. Geode Capital Management LLC grew its stake in Airbnb by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after buying an additional 47,966 shares during the last quarter. AQR Capital Management LLC grew its stake in Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after buying an additional 2,492,847 shares during the last quarter. Clearbridge Investments LLC increased its position in Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock valued at $824,356,000 after buying an additional 216,455 shares in the last quarter. Finally, Independent Franchise Partners LLP increased its position in Airbnb by 23.6% during the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company’s stock valued at $698,452,000 after buying an additional 981,624 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 60,136 shares of Airbnb stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $145.70, for a total transaction of $8,761,815.20. Following the transaction, the insider owned 11,920 shares of the company’s stock, valued at $1,736,744. The trade was a 83.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 265,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $135.45, for a total value of $35,894,250.00. Following the completion of the sale, the director owned 3,182,355 shares of the company’s stock, valued at approximately $431,049,984.75. This represents a 7.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,914,860 shares of company stock valued at $259,869,869 in the last ninety days. Insiders own 27.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ABNB. Jefferies Financial Group set a $160.00 price target on Airbnb in a research note on Friday, June 5th. Oppenheimer upgraded shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research report on Monday, May 4th. Weiss Ratings upgraded Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Wedbush raised shares of Airbnb from a “neutral” rating to a “neutral” rating in a research note on Monday, May 4th. Finally, Citizens Jmp increased their target price on Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.96.

Airbnb Trading Down 1.7%

NASDAQ ABNB opened at $141.88 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $85.51 billion, a P/E ratio of 34.95, a PEG ratio of 1.55 and a beta of 1.16. The firm’s 50-day moving average is $137.20 and its two-hundred day moving average is $132.76. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $147.27.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the business earned $0.24 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.91 earnings per share for the current year.

About Airbnb

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.