AQR Capital Management LLC Has $500.76 Million Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• AQR Capital Management LLC increased its stake in Airbnb, Inc. by 81.0% during the first quarter, now holding 4,282,523 shares valued at approximately $500.76 million.
• Airbnb's stock is currently down 2.3%, with shares opening at $127.59 and a market cap of $79.29 billion.
• The company reported earnings of $1.03 per share for the latest quarter, surpassing estimates and reflecting a 12.7% year-over-year revenue growth.

AQR Capital Management LLC raised its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 81.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,282,523 shares of the company's stock after buying an additional 1,916,676 shares during the quarter. Airbnb accounts for 0.5% of AQR Capital Management LLC's holdings, making the stock its 25th biggest holding. AQR Capital Management LLC owned 0.68% of Airbnb worth $500,755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in Airbnb in the 4th quarter valued at $26,000. Orion Capital Management LLC acquired a new position in Airbnb in the 4th quarter valued at $28,000. Stonebridge Financial Group LLC grew its holdings in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after buying an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after buying an additional 174 shares in the last quarter. Finally, SouthState Corp grew its holdings in Airbnb by 216.1% in the 1st quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after buying an additional 201 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Down 2.3%

Shares of ABNB stock opened at $127.59 on Wednesday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a market cap of $79.29 billion, a P/E ratio of 30.89, a P/E/G ratio of 2.38 and a beta of 1.13. The business has a fifty day simple moving average of $132.11 and a 200 day simple moving average of $130.03.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on ABNB shares. Zacks Research raised Airbnb to a "hold" rating in a report on Tuesday, August 12th. Royal Bank Of Canada upped their target price on Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Finally, UBS Group cut their target price on Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Airbnb currently has an average rating of "Hold" and a consensus target price of $142.72.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $139.40, for a total value of $32,898,400.00. Following the completion of the transaction, the director directly owned 1,180,015 shares in the company, valued at approximately $164,494,091. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the transaction, the chief financial officer owned 461,361 shares of the company's stock, valued at $62,680,505.46. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,434,296 shares of company stock valued at $191,087,168. 27.83% of the stock is currently owned by corporate 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.

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