Gateway Investment Advisers LLC Acquires New Position in Airbnb, Inc. (NASDAQ:ABNB)

Gateway Investment Advisers LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,197 shares of the company’s stock, valued at approximately $262,000.

A number of other hedge funds also recently made changes to their positions in ABNB. Norges Bank bought a new position in shares of Airbnb during the 4th quarter valued at approximately $433,374,000. Clearbridge Investments LLC grew its stake 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 acquiring an additional 2,590,475 shares during the period. Two Sigma Advisers LP grew its stake 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 acquiring an additional 2,577,000 shares during the period. Principal Financial Group Inc. grew its stake 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 acquiring an additional 1,185,892 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Airbnb by 52.1% in the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock worth $310,896,000 after purchasing an additional 809,964 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Insider Transactions at Airbnb

In related news, insider Nathan Blecharczyk sold 2,245 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $134.03, for a total transaction of $300,897.35. Following the sale, the insider now owns 188,173 shares of the company’s stock, valued at $25,220,827.19. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total value of $826,750.00. Following the sale, the chief financial officer now directly owns 467,611 shares in the company, valued at approximately $61,855,583.08. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,427,033 shares of company stock valued at $175,485,785. 27.91% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on ABNB. Morgan Stanley upped their price target on Airbnb from $125.00 to $130.00 and gave the stock an “underweight” rating in a research note on Thursday, April 17th. Canaccord Genuity Group dropped their price target on Airbnb from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, April 28th. UBS Group decreased their price objective on Airbnb from $160.00 to $138.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. DA Davidson raised Airbnb from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $170.00 to $155.00 in a report on Wednesday, April 30th. Finally, Citigroup decreased their price objective on Airbnb from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $141.23.

Airbnb Stock Performance

ABNB stock opened at $139.01 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $123.94 and its two-hundred day simple moving average is $130.72. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The firm has a market cap of $87.08 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.