QRG Capital Management Inc. Has $3.20 Million Stake in Airbnb, Inc. $ABNB

QRG Capital Management Inc. raised its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 15.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,352 shares of the company’s stock after purchasing an additional 3,441 shares during the period. QRG Capital Management Inc.’s holdings in Airbnb were worth $3,201,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Harris Associates L P increased its position in shares of Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares during the period. Independent Franchise Partners LLP bought a new stake in Airbnb during the third quarter worth about $505,672,000. Norges Bank acquired a new stake in Airbnb during the fourth quarter worth about $480,332,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Airbnb by 453.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock worth $403,782,000 after buying an additional 2,724,682 shares in the last quarter. Finally, SRS Investment Management LLC acquired a new stake in Airbnb during the fourth quarter worth about $342,017,000. Institutional investors own 80.76% of the company’s stock.

Insider Activity

In other Airbnb news, CEO Brian Chesky sold 265,746 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12. Following the completion of the transaction, the chief executive officer owned 11,206,389 shares of the company’s stock, valued at $1,481,708,753.58. This represents a 2.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 294,903 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $148.43, for a total value of $43,772,452.29. Following the completion of the transaction, the director owned 2,622,452 shares of the company’s stock, valued at $389,250,550.36. This represents a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 2,281,621 shares of company stock worth $315,312,325. Insiders own 27.21% of the company’s stock.

Airbnb Price Performance

ABNB stock traded up $1.93 during trading on Tuesday, reaching $149.58. 310,587 shares of the company were exchanged, compared to its average volume of 4,154,394. The company has a 50-day moving average of $137.99 and a two-hundred day moving average of $133.70. The company has a market capitalization of $90.15 billion, a price-to-earnings ratio of 36.86, a P/E/G ratio of 1.60 and a beta of 1.14. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $150.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. As a group, equities analysts predict that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the subject of several analyst reports. HC Wainwright upgraded shares of Airbnb to a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Company increased their price target on shares of Airbnb from $178.00 to $181.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Raymond James Financial raised shares of Airbnb from a “market perform” rating to a “strong-buy” rating in a research note on Monday, May 4th. Sanford C. Bernstein restated an “outperform” rating on shares of Airbnb in a research report on Friday, May 22nd. Finally, Citizens Jmp upped their target price on Airbnb from $160.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Airbnb presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.36.

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.