GCQ FUNDS MANAGEMENT PTY Ltd Buys 142,090 Shares of Airbnb, Inc. $ABNB

GCQ FUNDS MANAGEMENT PTY Ltd grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 83.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 311,718 shares of the company’s stock after acquiring an additional 142,090 shares during the quarter. Airbnb accounts for 5.7% of GCQ FUNDS MANAGEMENT PTY Ltd’s portfolio, making the stock its 7th largest position. GCQ FUNDS MANAGEMENT PTY Ltd’s holdings in Airbnb were worth $37,849,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABNB. Caxton Associates LLP acquired a new position in Airbnb in the 1st quarter valued at about $258,000. Intech Investment Management LLC boosted its stake in shares of Airbnb by 55.8% during the 1st quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock worth $1,453,000 after purchasing an additional 4,353 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Airbnb by 18.8% during the second quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock worth $776,000 after buying an additional 927 shares in the last quarter. Brookstone Capital Management acquired a new position in shares of Airbnb in the second quarter valued at approximately $299,000. Finally, Wealthfront Advisers LLC lifted its stake in shares of Airbnb by 8.2% during the second quarter. Wealthfront Advisers LLC now owns 18,011 shares of the company’s stock valued at $2,384,000 after buying an additional 1,360 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

ABNB stock opened at $132.02 on Thursday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $145.69. The stock’s fifty day moving average is $130.75 and its two-hundred day moving average is $126.02. The stock has a market capitalization of $80.36 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 1.70 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). Airbnb had a net margin of 20.51% and a return on equity of 30.88%. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Activity

In other Airbnb news, insider Nathan Blecharczyk sold 141,063 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $121.96, for a total transaction of $17,204,043.48. Following the completion of the transaction, the insider directly owned 11,520 shares of the company’s stock, valued at approximately $1,404,979.20. This trade represents a 92.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction on Monday, December 1st. The shares were sold at an average price of $118.47, for a total value of $6,871,260.00. Following the transaction, the director owned 692,015 shares in the company, valued at approximately $81,983,017.05. This trade represents a 7.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 857,682 shares of company stock valued at $108,169,163. Company insiders own 27.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Airbnb from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a report on Friday, February 13th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Airbnb in a report on Wednesday, January 14th. Sanford C. Bernstein reduced their target price on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Tuesday, January 6th. Cantor Fitzgerald set a $121.00 target price on shares of Airbnb in a research report on Friday, February 13th. Finally, Mizuho set a $156.00 price objective on Airbnb in a report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $148.69.

Airbnb 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.