New York State Common Retirement Fund Has $68.28 Million Holdings in Airbnb, Inc. (NASDAQ:ABNB)

New York State Common Retirement Fund trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 538,475 shares of the company’s stock after selling 26,202 shares during the period. New York State Common Retirement Fund’s holdings in Airbnb were worth $68,284,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in shares of Airbnb in the 1st quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb in the third quarter valued at approximately $25,000. New Millennium Group LLC bought a new stake in Airbnb in the 2nd quarter valued at $28,000. Cultivar Capital Inc. acquired a new stake in Airbnb during the 2nd quarter valued at $30,000. Finally, Heritage Wealth Advisors boosted its position in Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 71 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several research analyst reports. UBS Group increased their price objective on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. B. Riley cut their price objective on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group increased their price objective on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group decreased their price target on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $135.35.

Airbnb Price Performance

ABNB stock opened at $136.46 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The company has a market capitalization of $87.56 billion, a P/E ratio of 18.57, a PEG ratio of 1.93 and a beta of 1.17. The company has a fifty day moving average price of $126.86 and a 200-day moving average price of $138.34.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, equities analysts expect that Airbnb, Inc. will post 4.17 EPS for the current year.

Insider Activity

In related news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 418,406 shares of company stock valued at $51,885,773. 27.83% of the stock is currently owned by insiders.

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.