GAMMA Investing LLC Boosts Position in Airbnb, Inc. (NASDAQ:ABNB)

GAMMA Investing LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 98.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,115 shares of the company's stock after purchasing an additional 2,543 shares during the period. GAMMA Investing LLC's holdings in Airbnb were worth $611,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Airbnb by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock worth $1,244,514,000 after purchasing an additional 72,991 shares during the period. Clearbridge Investments LLC grew its position in shares of Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the last quarter. Northern Trust Corp increased its stake in shares of Airbnb by 8.4% during the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock worth $564,647,000 after purchasing an additional 331,607 shares during the period. Renaissance Technologies LLC lifted its holdings in Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after purchasing an additional 558,856 shares during the last quarter. Finally, Norges Bank bought a new stake in Airbnb in the 4th quarter valued at $433,374,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Stock Down 0.0%

Shares of Airbnb stock traded down $0.02 during trading hours on Wednesday, reaching $135.39. 2,667,460 shares of the company's stock were exchanged, compared to its average volume of 5,034,312. The business has a fifty day moving average of $130.82 and a two-hundred day moving average of $130.38. The company has a market capitalization of $84.81 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 2.54 and a beta of 1.13. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The company 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 company earned $0.41 earnings per share. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Airbnb from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 25th. Susquehanna cut their price objective on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a report on Monday, May 5th. Wedbush lowered shares of Airbnb from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $150.00 to $135.00 in a research report on Friday, May 2nd. Jefferies Financial Group upgraded shares of Airbnb from a "hold" rating to a "buy" rating and lifted their price target for the company from $165.00 to $185.00 in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. cut their price target on Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Five 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $141.23.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the completion of the transaction, the director owned 944,015 shares of the company's stock, valued at $122,212,181.90. The trade was a 20.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total transaction of $826,750.00. Following the transaction, the chief financial officer owned 467,611 shares of the company's stock, 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. Insiders sold a total of 1,607,528 shares of company stock valued at $201,688,571 over the last 90 days. Company insiders own 27.91% of the company's stock.

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.