AQR Capital Management LLC Sells 1,589,924 Shares of Airbnb, Inc. $ABNB

AQR Capital Management LLC decreased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 37.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,692,599 shares of the company’s stock after selling 1,589,924 shares during the period. AQR Capital Management LLC’s holdings in Airbnb were worth $356,338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kentucky Trust Co bought a new position in shares of Airbnb during the second quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Airbnb by 70.9% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners acquired a new position in Airbnb during the second quarter worth $28,000. Whipplewood Advisors LLC boosted its stake in shares of Airbnb by 235.3% during the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after buying an additional 160 shares during the last quarter. Finally, Armstrong Advisory Group Inc. boosted its position in Airbnb by 363.6% during the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. KeyCorp started coverage on shares of Airbnb in a report on Thursday, October 23rd. They set a “sector weight” rating on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $165.00 price objective on shares of Airbnb in a research report on Friday, November 7th. DA Davidson reiterated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research report on Friday, December 5th. Wedbush reaffirmed a “neutral” rating and issued a $130.00 price target on shares of Airbnb in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $143.88.

Airbnb Price Performance

NASDAQ:ABNB opened at $128.39 on Friday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a market cap of $79.03 billion, a PE ratio of 30.50, a P/E/G ratio of 2.25 and a beta of 1.11. The firm’s 50 day simple moving average is $121.99 and its 200 day simple moving average is $127.42.

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

Insider Buying and Selling at Airbnb

In other news, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $118.47, for a total transaction of $6,871,260.00. Following the transaction, the director owned 692,015 shares of the company’s stock, valued at $81,983,017.05. This represents a 7.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 650 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $120.92, for a total value of $78,598.00. Following the completion of the sale, the chief technology officer directly owned 187,036 shares of the company’s stock, valued at $22,616,393.12. This trade represents a 0.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,847,828 shares of company stock valued at $224,091,067. 27.91% of the stock is currently owned by insiders.

Airbnb 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.