Illinois Municipal Retirement Fund Cuts Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Illinois Municipal Retirement Fund lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 35.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,702 shares of the company’s stock after selling 19,268 shares during the period. Illinois Municipal Retirement Fund’s holdings in Airbnb were worth $4,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Edgewood Management LLC increased its stake in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares during the period. Geode Capital Management LLC grew its holdings in shares of Airbnb by 1.6% in the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after purchasing an additional 146,761 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after buying an additional 52,358 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Airbnb by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company’s stock valued at $299,272,000 after buying an additional 80,610 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Up 1.8 %

Shares of Airbnb stock opened at $144.03 on Thursday. The company has a 50-day simple moving average of $136.22 and a two-hundred day simple moving average of $131.58. The stock has a market capitalization of $90.82 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 3.52 and a beta of 1.12. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. On average, analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Transactions at Airbnb

In related news, insider Nathan Blecharczyk sold 2,712 shares of Airbnb stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $156.32, for a total value of $423,939.84. Following the completion of the sale, the insider now directly owns 159,337 shares in the company, valued at approximately $24,907,559.84. This trade represents a 1.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the transaction, the chief technology officer now owns 185,414 shares in the company, valued at $25,218,158.14. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,876,329 shares of company stock worth $265,258,279 over the last quarter. 27.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ABNB shares. Wells Fargo & Company cut their price target on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Phillip Securities reissued a “reduce” rating and issued a $120.00 target price on shares of Airbnb in a research note on Tuesday, November 12th. DA Davidson upped their price target on Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Barclays lifted their price objective on Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, February 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Airbnb in a report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $146.48.

Airbnb Company 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.