Quantitative Investment Management LLC Invests $4.32 Million in Airbnb, Inc. $ABNB

Quantitative Investment Management LLC acquired a new stake in Airbnb, Inc. (NASDAQ:ABNBFree Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 30,156 shares of the company’s stock, valued at approximately $4,315,000.

Other institutional investors have also made changes to their positions in the company. Harris Associates L P boosted its holdings in Airbnb by 21.0% during the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock worth $2,537,205,000 after purchasing an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC increased its stake in Airbnb by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock valued at $1,368,338,000 after buying an additional 47,966 shares during the last quarter. AQR Capital Management LLC increased its stake in Airbnb by 58.4% in the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock valued at $917,845,000 after buying an additional 2,492,847 shares during the last quarter. Clearbridge Investments LLC lifted its position in Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock worth $824,356,000 after buying an additional 216,455 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Airbnb by 80.6% during the 2nd quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock worth $827,929,000 after buying an additional 2,581,539 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the subject of several analyst reports. Wedbush upgraded Airbnb from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $152.00 to $200.00 in a report on Friday, August 7th. UBS Group upped their target price on Airbnb from $163.00 to $172.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Raymond James Financial raised Airbnb from a “market perform” rating to a “strong-buy” rating in a research report on Monday, May 4th. Morgan Stanley boosted their price target on Airbnb from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald upped their price objective on Airbnb from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.03.

View Our Latest Stock Analysis on Airbnb

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 294,903 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director directly owned 2,622,452 shares of the company’s stock, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 531,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $174.41, for a total value of $92,611,710.00. Following the completion of the sale, the insider owned 171,370 shares in the company, valued at approximately $29,888,641.70. This trade represents a 75.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,405,634 shares of company stock worth $386,670,578. 27.21% of the stock is owned by company insiders.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $189.43 on Monday. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $193.45. The company has a market capitalization of $113.43 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.14. The company has a 50-day simple moving average of $158.90 and a 200 day simple moving average of $141.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41.

Airbnb (NASDAQ:ABNBGet Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.The business’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. Sell-side analysts forecast that Airbnb, Inc. will post 5.23 earnings per share for the current year.

Airbnb Company Profile

(Free Report)

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

See Also

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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