QRG Capital Management Inc. Has $3.71 Million Stake in Airbnb, Inc. $ABNB

Key Points

• QRG Capital Management Inc. reduced its stake in Airbnb, Inc. by 20.8% during the second quarter, now holding 28,001 shares valued at approximately $3.71 million.
• Several hedge funds increased their positions in Airbnb, with 80.76% of the stock currently owned by institutional investors and hedge funds.
• Analysts have mixed views on Airbnb's stock, with a consensus rating of "Hold" and a price target range between $120.00 and $141.81.

QRG Capital Management Inc. trimmed its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 20.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,001 shares of the company's stock after selling 7,337 shares during the period. QRG Capital Management Inc.'s holdings in Airbnb were worth $3,706,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Sit Investment Associates Inc. grew its holdings in shares of Airbnb by 42.8% in the 1st 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 last quarter. Vestmark Advisory Solutions Inc. grew its stake in Airbnb by 74.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock worth $2,451,000 after buying an additional 8,780 shares during the last quarter. Plato Investment Management Ltd increased its holdings in shares of Airbnb by 53.1% during the first quarter. Plato Investment Management Ltd now owns 18,974 shares of the company's stock worth $2,291,000 after buying an additional 6,579 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Airbnb by 52.9% in the first quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company's stock valued at $293,590,000 after acquiring an additional 850,719 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of Airbnb by 10.0% in the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after acquiring an additional 484 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Phillip Securities raised Airbnb from a "moderate sell" rating to a "hold" rating in a report on Friday, August 8th. Citizens Jmp upgraded Airbnb to a "hold" rating in a research note on Monday, August 11th. Morgan Stanley cut their price target on Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. Wedbush decreased their price objective on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Airbnb in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Airbnb has an average rating of "Hold" and a consensus price target of $141.81.

Airbnb Trading Up 0.1%

Shares of NASDAQ ABNB opened at $120.35 on Tuesday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm's 50-day moving average is $125.42 and its 200-day moving average is $127.53. The firm has a market capitalization of $74.79 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.10.

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, beating the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the business posted $0.86 earnings per share. Airbnb's revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 2,246 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the transaction, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elinor Mertz sold 4,630 shares of Airbnb stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total value of $594,584.60. Following the sale, the chief financial officer directly owned 444,070 shares of the company's stock, valued at approximately $57,027,469.40. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,431,476 shares of company stock worth $182,776,618 over the last 90 days. 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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