AlphaQuest LLC Acquires Shares of 13,184 Airbnb, Inc. $ABNB

AlphaQuest LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,184 shares of the company’s stock, valued at approximately $1,601,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. boosted its position in Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Airbnb in the 2nd quarter valued at approximately $28,000. Whipplewood Advisors LLC lifted its stake in shares of Airbnb by 235.3% in the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after purchasing an additional 160 shares during the period. Root Financial Partners LLC bought a new stake in shares of Airbnb during the third quarter valued at approximately $32,000. Finally, NewSquare Capital LLC grew its stake in Airbnb by 86.4% in the second quarter. NewSquare Capital LLC now owns 287 shares of the company’s stock worth $38,000 after purchasing an additional 133 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Cantor Fitzgerald raised Airbnb from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $117.00 to $141.00 in a research report on Thursday, January 8th. Jefferies Financial Group increased their price target on shares of Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. KeyCorp started coverage on shares of Airbnb in a research report on Thursday, October 23rd. They set a “sector weight” rating for the company. Sanford C. Bernstein cut their price objective on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Tuesday, January 6th. Finally, Mizuho set a $156.00 target price on shares of Airbnb in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $147.84.

Airbnb Trading Down 1.8%

Shares of ABNB opened at $129.37 on Friday. The company has a market cap of $79.63 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.04 and a beta of 1.09. The business’s fifty day simple moving average is $130.57 and its two-hundred day simple moving average is $127.41. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the company earned $2.13 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $133.28, for a total transaction of $7,730,240.00. Following the transaction, the director directly owned 460,015 shares of the company’s stock, valued at $61,310,799.20. This represents a 11.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 2,565 shares of Airbnb stock in a transaction on Friday, December 19th. The stock was sold at an average price of $134.79, for a total value of $345,736.35. Following the completion of the sale, the chief technology officer directly owned 165,086 shares of the company’s stock, valued at $22,251,941.94. The trade was a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,202,272 shares of company stock valued at $148,094,596. Insiders own 27.91% of the company’s stock.

Airbnb Profile

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.