VIRGINIA RETIREMENT SYSTEMS ET Al Has $38.92 Million Stock Holdings in Airbnb, Inc. $ABNB

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in Airbnb, Inc. (NASDAQ:ABNB) by 27.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 320,499 shares of the company’s stock after selling 122,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Airbnb were worth $38,915,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Kentucky Trust Co acquired a new stake in Airbnb in the second quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Airbnb by 70.9% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after purchasing an additional 83 shares in the last quarter. Concord Wealth Partners acquired a new stake in Airbnb in the 2nd quarter valued at $28,000. Whipplewood Advisors LLC grew its position in Airbnb by 235.3% in the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after purchasing an additional 160 shares during the period. Finally, Armstrong Advisory Group Inc. increased its stake in Airbnb by 363.6% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on ABNB. Truist Financial raised their price objective on shares of Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a research note on Thursday, December 4th. Sanford C. Bernstein restated an “outperform” rating and issued a $165.00 target price on shares of Airbnb in a report on Friday, November 7th. DA Davidson reaffirmed a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research report on Friday, December 5th. Wells Fargo & Company boosted their price objective on Airbnb from $111.00 to $118.00 and gave the stock an “underweight” rating in a report on Monday, December 1st. Finally, BTIG Research reissued a “neutral” rating on shares of Airbnb in a research note on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $144.48.

Airbnb Stock Performance

Shares of ABNB stock opened at $136.91 on Wednesday. The company has a market capitalization of $84.27 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 2.40 and a beta of 1.11. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a 50-day simple moving average of $125.09 and a two-hundred day simple moving average of $127.42.

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

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $130.56, for a total value of $7,572,480.00. Following the transaction, the director owned 634,015 shares of the company’s stock, valued at approximately $82,776,998.40. The trade was a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 2,565 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $134.79, for a total value of $345,736.35. Following the completion of the transaction, the chief technology officer owned 165,086 shares of the company’s stock, valued at $22,251,941.94. This trade represents a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,518,606 shares of company stock valued at $185,179,640 in the last ninety days. 27.83% of the stock is owned by corporate insiders.

Airbnb 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.