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

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,027 shares of the company’s stock after selling 1,213 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Airbnb were worth $1,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ABNB. Transcendent Capital Group LLC bought a new position in shares of Airbnb in the first quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Airbnb in the third quarter valued at about $25,000. Hollencrest Capital Management raised its stake in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. New Millennium Group LLC purchased a new stake in shares of Airbnb during the second quarter worth about $28,000. Finally, Cultivar Capital Inc. bought a new stake in shares of Airbnb in the second quarter worth about $30,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the transaction, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. This trade represents a 1.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 42,719 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This represents a 72.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 417,806 shares of company stock valued at $51,809,831. 27.83% of the stock is owned by insiders.

Airbnb Trading Down 1.5 %

NASDAQ:ABNB opened at $132.50 on Friday. The company has a 50 day simple moving average of $130.99 and a two-hundred day simple moving average of $136.58. The company has a market cap of $85.01 billion, a PE ratio of 46.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. 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, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10.

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

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of recent analyst reports. Citigroup upped their price target on Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wedbush raised their price target on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Sanford C. Bernstein reduced their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 17th. Robert W. Baird raised their target price on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Susquehanna lifted their target price on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research note on Monday, November 11th. 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $139.31.

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.