Retirement Systems of Alabama Has $43.25 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

Retirement Systems of Alabama grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,031 shares of the company's stock after purchasing an additional 18,407 shares during the period. Retirement Systems of Alabama owned about 0.05% of Airbnb worth $43,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ABNB. Edgewood Management LLC lifted its stake in Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company's stock valued at $1,722,388,000 after buying an additional 1,143,464 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Airbnb by 1.6% during 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 during the period. Pacer Advisors Inc. lifted its position in shares of Airbnb by 6,085.6% in 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 in the last quarter. Legal & General Group Plc boosted its stake in Airbnb by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company's stock worth $519,044,000 after purchasing an additional 153,784 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Airbnb by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company's stock worth $343,185,000 after purchasing an additional 52,358 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insiders Place Their Bets

In other news, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $137.00, for a total value of $137,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 40,581 shares of the company's stock, valued at approximately $5,559,597. This represents a 2.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 500 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $136.01, for a total value of $68,005.00. Following the completion of the sale, the chief technology officer now directly owns 185,414 shares in the company, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 787,926 shares of company stock worth $101,440,343. 27.83% of the stock is currently owned by company insiders.

Airbnb Stock Performance

NASDAQ:ABNB traded down $6.52 during trading hours on Friday, hitting $130.95. 5,288,524 shares of the company traded hands, compared to its average volume of 4,519,565. 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 twelve month low of $110.38 and a twelve month high of $170.10. The firm has a 50-day moving average of $135.91 and a 200 day moving average of $134.85. The stock has a market capitalization of $83.02 billion, a price-to-earnings ratio of 45.95, a P/E/G ratio of 1.93 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.96% and a return on equity of 32.88%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the company posted $2.39 EPS. On average, analysts forecast that Airbnb, Inc. will post 3.99 EPS for the current year.

Wall Street Analyst Weigh In

ABNB has been the subject of a number of research analyst reports. Argus lowered Airbnb from a "buy" rating to a "hold" rating in a report on Wednesday, September 4th. Bank of America reissued a "hold" rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Truist Financial lowered their target price on Airbnb from $124.00 to $123.00 and set a "hold" rating on the stock in a research note on Wednesday, December 4th. Robert W. Baird increased their price target 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, Citigroup raised their price target on shares of Airbnb from $135.00 to $158.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued 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 $138.94.

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.