Kentucky Retirement Systems Insurance Trust Fund Trims Position in Airbnb, Inc. (NASDAQ:ABNB)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 8.5% during the 3rd quarter, Holdings Channel reports. The firm owned 13,027 shares of the company’s stock after selling 1,213 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Airbnb were worth $1,652,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Farrow Financial Inc. raised its holdings in Airbnb by 1.0% during the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after acquiring an additional 69 shares during the period. GYL Financial Synergies LLC lifted its holdings in Airbnb by 5.0% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after purchasing an additional 76 shares in the last quarter. HB Wealth Management LLC boosted its stake in Airbnb by 1.6% in the 2nd quarter. HB Wealth Management LLC now owns 4,938 shares of the company’s stock worth $749,000 after purchasing an additional 76 shares during the period. Optas LLC grew its holdings in Airbnb by 4.5% during the 2nd quarter. Optas LLC now owns 1,829 shares of the company’s stock valued at $277,000 after buying an additional 78 shares in the last quarter. Finally, Sage Mountain Advisors LLC raised its position in shares of Airbnb by 1.1% during the second quarter. Sage Mountain Advisors LLC now owns 7,341 shares of the company’s stock valued at $1,113,000 after buying an additional 79 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Trading Down 1.5 %

NASDAQ ABNB opened at $132.50 on Friday. The stock has a market cap of $85.01 billion, a PE ratio of 46.49, a PEG ratio of 1.87 and a beta of 1.15. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company’s 50-day moving average price is $130.99 and its 200-day moving average price is $136.58. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company earned $2.39 earnings per share. Equities research analysts forecast that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ABNB shares. Phillip Securities restated a “reduce” rating and set a $120.00 target price on shares of Airbnb in a research report on Tuesday, November 12th. Cantor Fitzgerald reissued an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. Morgan Stanley raised their price objective on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Piper Sandler boosted their target price on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.31.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This represents a 0.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the transaction, the director now directly owns 16,472 shares in the company, valued at approximately $2,083,378.56. The trade was a 72.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,806 shares of company stock worth $51,809,831 in the last ninety days. 27.83% of the stock is owned by company insiders.

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.