Worldquant Millennium Advisors LLC Acquires New Position in Airbnb, Inc. (NASDAQ:ABNB)

Worldquant Millennium Advisors LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, HoldingsChannel reports. The fund acquired 15,414 shares of the company’s stock, valued at approximately $2,026,000.

A number of other large investors also recently modified their holdings of ABNB. Norges Bank purchased a new position in shares of Airbnb during the 4th quarter valued at about $433,374,000. Clearbridge Investments LLC raised its holdings in shares of Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after buying an additional 2,590,475 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after buying an additional 2,577,000 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Airbnb by 174.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after buying an additional 1,185,892 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Airbnb by 52.1% during the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock valued at $310,896,000 after buying an additional 809,964 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Up 0.1%

NASDAQ ABNB opened at $127.65 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The firm has a market capitalization of $79.96 billion, a PE ratio of 30.91, a P/E/G ratio of 3.52 and a beta of 1.14. The stock’s 50 day moving average is $122.39 and its 200 day moving average is $131.12.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, insider Nathan Blecharczyk sold 2,245 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $134.03, for a total value of $300,897.35. Following the sale, the insider now directly owns 188,173 shares of the company’s stock, valued at approximately $25,220,827.19. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total value of $23,305,636.60. Following the completion of the sale, the director now directly owns 2,294,870 shares in the company, valued at $249,590,061.20. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,631,064 shares of company stock valued at $204,677,803. 27.91% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of analyst reports. Jefferies Financial Group raised Airbnb from a “hold” rating to a “buy” rating and lifted their price target for the stock from $165.00 to $185.00 in a research note on Monday, March 10th. Evercore ISI decreased their price target on Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Gordon Haskett raised Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price target on the stock in a research note on Friday, February 14th. Tigress Financial lifted their price target on Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Finally, Royal Bank of Canada decreased their price target on Airbnb from $160.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $141.43.

About Airbnb

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.