QRG Capital Management Inc. Increases Position in Airbnb, Inc. (NASDAQ:ABNB)

QRG Capital Management Inc. increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 17.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 34,489 shares of the company’s stock after acquiring an additional 5,072 shares during the period. QRG Capital Management Inc.’s holdings in Airbnb were worth $4,532,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Airbnb during the 4th quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new stake in shares of Airbnb during the fourth quarter worth approximately $26,000. Hollencrest Capital Management lifted its holdings in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new position in Airbnb in the 3rd quarter valued at $30,000. Finally, Whipplewood Advisors LLC purchased a new position in Airbnb in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity

In other Airbnb news, CTO Aristotle N. Balogh sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $136.01, for a total value of $68,005.00. Following the sale, the chief technology officer now directly owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 26,154 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $145.00, for a total transaction of $3,792,330.00. Following the transaction, the insider now directly owns 159,337 shares of the company’s stock, valued at approximately $23,103,865. This represents a 14.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,117,468 shares of company stock valued at $299,565,586 over the last quarter. Company insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ABNB. Argus upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Gordon Haskett upgraded shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price objective for the company in a research report on Friday, February 14th. Barclays lifted their price objective on Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, February 14th. Robert W. Baird raised Airbnb from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $140.00 to $175.00 in a research note on Friday, February 14th. Finally, Canaccord Genuity Group lifted their price target on Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $146.48.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $138.87 on Friday. The company has a 50-day simple moving average of $136.52 and a 200-day simple moving average of $131.81. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market cap of $87.56 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 3.52 and a beta of 1.12. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. On average, equities analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Airbnb Company Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.