New Mexico Educational Retirement Board Sells 600 Shares of Airbnb, Inc. (NASDAQ:ABNB)

New Mexico Educational Retirement Board lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,000 shares of the company’s stock after selling 600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Airbnb were worth $2,760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABNB. Pacer Advisors Inc. raised its holdings in Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares during the period. Meritage Group LP bought a new stake in Airbnb during the 3rd quarter valued at $160,985,000. Edgewood Management LLC raised its holdings in Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after acquiring an additional 1,143,464 shares during the period. International Assets Investment Management LLC raised its holdings in Airbnb by 19,430.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after acquiring an additional 1,113,747 shares during the period. Finally, Temasek Holdings Private Ltd raised its holdings in Airbnb by 91.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock valued at $294,726,000 after acquiring an additional 1,109,076 shares during the period. Institutional investors own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the sale, the director now directly owns 10,321 shares in the company, valued at $1,352,876.68. This trade represents a 95.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian Chesky sold 190,301 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $140.51, for a total transaction of $26,739,193.51. Following the completion of the sale, the chief executive officer now owns 12,231,685 shares of the company’s stock, valued at $1,718,674,059.35. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,608,005 shares of company stock worth $214,394,023. Company insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of analyst reports. DA Davidson boosted their target price on shares of Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a report on Friday. Susquehanna boosted their price target on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research report on Monday, November 11th. Piper Sandler boosted their price target on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Benchmark boosted their price target on shares of Airbnb from $150.00 to $178.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a sell rating, twenty have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $145.79.

Airbnb Stock Performance

Airbnb stock opened at $161.42 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $133.49 and a 200-day moving average of $130.11. The firm has a market cap of $102.34 billion, a P/E ratio of 56.64, a P/E/G ratio of 1.88 and a beta of 1.12. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. Sell-side analysts expect that Airbnb, Inc. will post 3.97 EPS for the current year.

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.