Quantitative Investment Management LLC Makes New Investment in Airbnb, Inc. $ABNB

Quantitative Investment Management LLC bought a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,156 shares of the company’s stock, valued at approximately $4,315,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its holdings in Airbnb by 1.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock valued at $727,000 after acquiring an additional 76 shares during the last quarter. BOKF NA raised its holdings in Airbnb by 11.0% during the 4th quarter. BOKF NA now owns 787 shares of the company’s stock worth $107,000 after purchasing an additional 78 shares during the last quarter. Private Advisor Group LLC lifted its position in Airbnb by 1.0% during the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock valued at $1,007,000 after purchasing an additional 86 shares during the period. FSB Premier Wealth Management Inc. lifted its position in Airbnb by 3.4% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,692 shares of the company’s stock valued at $365,000 after purchasing an additional 89 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC boosted its stake in shares of Airbnb by 3.0% in the 2nd quarter. Norman Fields Gottscho Capital Management LLC now owns 3,085 shares of the company’s stock valued at $441,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

Shares of ABNB opened at $189.43 on Monday. The stock has a 50 day simple moving average of $158.90 and a 200 day simple moving average of $141.89. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $193.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $113.43 billion, a PE ratio of 43.05, a P/E/G ratio of 2.19 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, August 6th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period last year, the company posted $1.03 EPS. The business’s quarterly revenue was up 16.3% on a year-over-year basis. Sell-side analysts predict that Airbnb, Inc. will post 5.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ABNB shares. HC Wainwright upgraded shares of Airbnb to a “buy” rating in a research report on Monday, May 4th. UBS Group raised their price objective on shares of Airbnb from $163.00 to $172.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Scotiabank initiated coverage on shares of Airbnb in a report on Monday, May 4th. They set an “outperform” rating for the company. KeyCorp reiterated a “sector weight” rating on shares of Airbnb in a research report on Monday, August 10th. Finally, Robert W. Baird increased their price target on Airbnb from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.03.

Insider Activity at Airbnb

In related news, Director Kenneth I. Chenault sold 8,346 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $170.00, for a total transaction of $1,418,820.00. Following the sale, the director directly owned 40,879 shares in the company, valued at $6,949,430. This trade represents a 16.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Chesky sold 20,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $173.61, for a total transaction of $3,472,200.00. Following the completion of the sale, the chief executive officer directly owned 5,854 shares in the company, valued at $1,016,312.94. This represents a 77.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,405,634 shares of company stock worth $386,670,578 over the last three months. 27.21% of the stock is currently owned by insiders.

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.