Quantbot Technologies LP Sells 9,801 Shares of Airbnb, Inc. $ABNB

Key Points

• Quantbot Technologies LP reduced its stock position in Airbnb, Inc. by 16.4%, owning 49,788 shares valued at approximately $5.95 million after selling 9,801 shares in the first quarter.
• Multiple hedge funds increased their stakes in Airbnb, with Pacer Advisors Inc. notably raising its holdings by 2,297.4%, acquiring an additional 2.7 million shares during the same quarter.
• Airbnb's stock currently has a consensus rating of "Hold" from analysts, with a consensus price target of $142.72, reflecting varying opinions from different analysts on its future performance.

Quantbot Technologies LP lessened its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 16.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,788 shares of the company's stock after selling 9,801 shares during the quarter. Quantbot Technologies LP's holdings in Airbnb were worth $5,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ABNB. Alpha Family Trust raised its holdings in Airbnb by 120.5% in the first quarter. Alpha Family Trust now owns 3,395 shares of the company's stock worth $406,000 after purchasing an additional 1,855 shares in the last quarter. Aptus Capital Advisors LLC grew its position in shares of Airbnb by 25.3% in the 1st quarter. Aptus Capital Advisors LLC now owns 5,433 shares of the company's stock worth $649,000 after buying an additional 1,097 shares during the period. Northern Trust Corp grew its position in shares of Airbnb by 2.5% in the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock worth $525,979,000 after buying an additional 106,135 shares during the period. Brooklyn Investment Group increased its stake in shares of Airbnb by 65.1% in the 1st quarter. Brooklyn Investment Group now owns 2,170 shares of the company's stock worth $259,000 after acquiring an additional 856 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Airbnb during the 1st quarter valued at about $2,976,000. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. BNP Paribas raised shares of Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Piper Sandler dropped their price target on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. BMO Capital Markets set a $124.00 price target on Airbnb and gave the stock a "market perform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company set a $110.00 target price on Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. Two 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $142.72.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded up $3.49 during trading on Friday, reaching $129.92. 4,561,026 shares of the stock traded hands, compared to its average volume of 5,640,455. The stock has a market cap of $80.74 billion, a P/E ratio of 31.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13. The stock has a 50-day moving average of $132.62 and a two-hundred day moving average of $130.55. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

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

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $139.39, for a total transaction of $83,634.00. Following the sale, the chief technology officer owned 209,777 shares of the company's stock, valued at $29,240,816.03. This trade represents a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $125.36, for a total transaction of $29,584,960.00. Following the completion of the sale, the director directly owned 15 shares of the company's stock, valued at approximately $1,880.40. This trade represents a 99.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,692,739 shares of company stock valued at $224,363,640 over the last three months. 27.91% of the stock is owned by insiders.

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.