Louisiana State Employees Retirement System Reduces Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Louisiana State Employees Retirement System lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 54,900 shares of the company’s stock after selling 3,500 shares during the period. Louisiana State Employees Retirement System’s holdings in Airbnb were worth $7,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Edgewood Management LLC boosted its holdings in shares of Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares during the period. Geode Capital Management LLC raised 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 valued at $1,189,635,000 after acquiring an additional 146,761 shares in the last quarter. Pacer Advisors Inc. raised 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 valued at $537,872,000 after acquiring an additional 4,172,985 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 acquiring an additional 52,358 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $299,272,000 after acquiring an additional 80,610 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 0.5 %

Shares of ABNB stock opened at $134.52 on Wednesday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The stock has a market cap of $85.28 billion, a P/E ratio of 47.20, a P/E/G ratio of 1.88 and a beta of 1.12. The stock has a 50 day moving average of $132.87 and a 200 day moving average of $129.87. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Phillip Securities reaffirmed a “reduce” rating and set a $120.00 target price on shares of Airbnb in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their price target on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. DA Davidson upped their price objective on Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $155.00 target price on shares of Airbnb in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $139.63.

Insider Transactions at Airbnb

In related news, CFO Elinor Mertz sold 6,250 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $129.58, for a total value of $809,875.00. Following the completion of the transaction, the chief financial officer now owns 484,988 shares of the company’s stock, valued at approximately $62,844,745.04. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total value 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 have sold 1,417,704 shares of company stock valued at $187,654,829 in the last 90 days. 27.83% of the stock is currently owned by company insiders.

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