Maryland State Retirement & Pension System Grows Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Maryland State Retirement & Pension System increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,961 shares of the company’s stock after buying an additional 1,440 shares during the period. Maryland State Retirement & Pension System’s holdings in Airbnb were worth $3,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Lincoln National Corp boosted its holdings in Airbnb by 38.0% during the first quarter. Lincoln National Corp now owns 5,084 shares of the company’s stock worth $632,000 after buying an additional 1,401 shares in the last quarter. abrdn plc raised its position in Airbnb by 74.0% during the first quarter. abrdn plc now owns 71,269 shares of the company’s stock worth $8,866,000 after acquiring an additional 30,313 shares during the last quarter. Signaturefd LLC raised its position in Airbnb by 3.8% during the first quarter. Signaturefd LLC now owns 3,638 shares of the company’s stock worth $453,000 after acquiring an additional 132 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Airbnb by 23.3% during the first quarter. Illinois Municipal Retirement Fund now owns 46,108 shares of the company’s stock worth $5,736,000 after acquiring an additional 8,706 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Airbnb by 99.2% during the first quarter. NewEdge Advisors LLC now owns 19,633 shares of the company’s stock worth $2,400,000 after acquiring an additional 9,778 shares during the last quarter. Hedge funds and other institutional investors own 44.19% of the company’s stock.

Airbnb Price Performance

Shares of ABNB stock opened at $142.55 on Tuesday. The company has a market capitalization of $92.27 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29. The firm has a fifty day simple moving average of $139.15 and a 200-day simple moving average of $125.83. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.39. Airbnb, Inc. has a twelve month low of $81.91 and a twelve month high of $154.95.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.21. Airbnb had a net margin of 25.31% and a return on equity of 42.90%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the firm posted $0.56 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. Equities research analysts anticipate that Airbnb, Inc. will post 3.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In other Airbnb news, insider Catherine C. Powell sold 6,900 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $145.00, for a total transaction of $1,000,500.00. Following the transaction, the insider now directly owns 121,319 shares in the company, valued at approximately $17,591,255. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Airbnb news, insider Catherine C. Powell sold 6,900 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $145.00, for a total transaction of $1,000,500.00. Following the sale, the insider now directly owns 121,319 shares of the company’s stock, valued at $17,591,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 516,666 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $150.42, for a total transaction of $77,716,899.72. Following the sale, the director now directly owns 1,666,769 shares in the company, valued at $250,715,392.98. The disclosure for this sale can be found here. Insiders have sold 2,147,348 shares of company stock worth $295,803,385 in the last ninety days. 30.84% of the stock is owned by insiders.

Analyst Ratings Changes

ABNB has been the subject of a number of research reports. Argus lifted their target price on shares of Airbnb from $124.00 to $168.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Bank of America lifted their target price on shares of Airbnb from $135.00 to $146.00 in a research report on Wednesday, July 12th. Morgan Stanley boosted their price objective on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 18th. Wells Fargo & Company boosted their price objective on shares of Airbnb from $99.00 to $114.00 and gave the company an “underweight” rating in a research report on Friday, August 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Airbnb from $97.00 to $117.00 and gave the company a “sell” rating in a research report on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Airbnb has an average rating of “Hold” and an average target price of $144.81.

Airbnb 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 model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.