QRG Capital Management Inc. Sells 6,954 Shares of Airbnb, Inc. $ABNB

QRG Capital Management Inc. reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 24.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,047 shares of the company’s stock after selling 6,954 shares during the period. QRG Capital Management Inc.’s holdings in Airbnb were worth $2,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kentucky Trust Co bought a new stake in shares of Airbnb in the 2nd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners purchased a new position in shares of Airbnb during the second quarter valued at approximately $28,000. Whipplewood Advisors LLC lifted its position in Airbnb by 235.3% during the second 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. Finally, Armstrong Advisory Group Inc. boosted its holdings in Airbnb by 363.6% in the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Down 1.5%

ABNB stock opened at $130.66 on Tuesday. The business’s 50-day moving average price is $128.01 and its 200-day moving average price is $127.64. The stock has a market cap of $80.43 billion, a P/E ratio of 31.04, a PEG ratio of 2.03 and a beta of 1.09. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93.

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

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 141,063 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $121.96, for a total value of $17,204,043.48. Following the completion of the transaction, the insider owned 11,520 shares of the company’s stock, valued at approximately $1,404,979.20. This represents a 92.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $120.66, for a total value of $28,475,760.00. Following the sale, the director directly owned 232,015 shares in the company, valued at $27,994,929.90. This trade represents a 50.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,401,156 shares of company stock worth $173,365,363. 27.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABNB shares. BTIG Research reiterated a “neutral” rating on shares of Airbnb in a research note on Friday, November 7th. DA Davidson reiterated a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Friday, December 5th. BNP Paribas started coverage on Airbnb in a report on Monday, November 24th. They issued a “hold” rating on the stock. BNP Paribas Exane started coverage on Airbnb in a research note on Monday, November 24th. They set a “neutral” rating for the company. Finally, B. Riley raised shares of Airbnb from a “neutral” rating to a “buy” rating and upped their price target for the company from $140.00 to $170.00 in a research report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-one have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $147.84.

Airbnb Company 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.