AlphaQuest LLC Increases Position in Airbnb, Inc. $ABNB

Key Points

• AlphaQuest LLC increased its stake in Airbnb, Inc. by 130.4% in Q1, owning a total of 6,441 shares worth $769,000.
• In the last quarter, several hedge funds enhanced their positions in Airbnb, with Pacer Advisors Inc. seeing an astonishing 2,297.4% boost in its holdings.
• Airbnb's recent earnings report showed an EPS of $1.03, exceeding estimates, with quarterly revenue growing 12.7% year-over-year.

AlphaQuest LLC boosted its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 130.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,441 shares of the company's stock after acquiring an additional 3,646 shares during the period. AlphaQuest LLC's holdings in Airbnb were worth $769,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ABNB. Sit Investment Associates Inc. lifted its holdings in shares of Airbnb by 42.8% during the first quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock worth $2,015,000 after purchasing an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. increased its stake in Airbnb by 74.8% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock valued at $2,451,000 after buying an additional 8,780 shares during the period. Ritholtz Wealth Management raised its position in Airbnb by 10.0% during the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after buying an additional 484 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Airbnb by 0.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock worth $6,115,000 after acquiring an additional 228 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Airbnb by 40.1% in the first quarter. Spire Wealth Management now owns 909 shares of the company's stock valued at $109,000 after acquiring an additional 260 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABNB. JMP Securities reissued a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Wells Fargo & Company set a $110.00 price target on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Barclays set a $105.00 price objective on Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group decreased their target price on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $142.72.

Insider Transactions at Airbnb

In related news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $135.86, for a total transaction of $849,125.00. Following the completion of the transaction, the chief financial officer directly owned 461,361 shares in the company, valued at $62,680,505.46. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at $6,051,898. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,445,355 shares of company stock valued at $192,533,558 in the last ninety days. Corporate insiders own 27.91% of the company's stock.

Airbnb Trading Down 0.2%

Shares of NASDAQ:ABNB traded down $0.33 during midday trading on Friday, hitting $130.14. 2,437,514 shares of the stock were exchanged, compared to its average volume of 5,231,945. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a 50 day moving average price of $132.23 and a 200-day moving average price of $130.43. The stock has a market cap of $80.87 billion, a P/E ratio of 31.58, a PEG ratio of 2.37 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm's revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. On average, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

About Airbnb

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.