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

QRG Capital Management Inc. grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 15.7% in the 1st quarter, Holdings Channel.com reports. The fund 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.

A number of other hedge funds also recently modified their holdings of ABNB. Harris Associates L P increased its holdings in Airbnb by 21.0% in the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock valued at $2,537,205,000 after purchasing an additional 3,240,477 shares during the period. Geode Capital Management LLC lifted its holdings in Airbnb by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after buying an additional 47,966 shares during the period. AQR Capital Management LLC lifted its holdings in Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after buying an additional 2,492,847 shares during the period. Clearbridge Investments LLC grew its position in shares of Airbnb by 3.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock valued at $824,356,000 after buying an additional 216,455 shares during the last quarter. Finally, Independent Franchise Partners LLP grew its position in shares of Airbnb by 23.6% in the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company’s stock valued at $698,452,000 after buying an additional 981,624 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Up 1.3%

Airbnb stock traded up $1.93 during midday trading on Tuesday, reaching $149.58. The stock had a trading volume of 310,587 shares, compared to its average volume of 4,154,394. The company has a fifty day moving average price of $137.99 and a two-hundred day moving average price of $133.70. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $150.19. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $90.15 billion, a P/E ratio of 36.86, a PEG ratio of 1.60 and a beta of 1.14.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Benchmark raised their price target on shares of Airbnb from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Susquehanna upped their price objective on shares of Airbnb from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their price objective on shares of Airbnb from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Airbnb in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Airbnb presently has a consensus rating of “Moderate Buy” and an average price target of $158.36.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction on 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 sale, the director owned 2,622,452 shares of the company’s stock, valued at approximately $389,250,550.36. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 265,746 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the sale, the chief executive officer owned 11,206,389 shares of the company’s stock, valued at $1,481,708,753.58. This trade represents a 2.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,281,621 shares of company stock valued at $315,312,325 over the last ninety days. 27.21% of the stock is owned by company insiders.

About Airbnb

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.