Monetta Financial Services Inc. Makes New $717,000 Investment in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Monetta Financial Services Inc. acquired 6,000 shares of Airbnb, valued at approximately $717,000, marking a significant move by the fund in the first quarter.
• Insider trading revealed that Director Joseph Gebbia sold 236,000 shares for over $30 million, which was a 50% decrease in his holdings.
• Airbnb's recent earnings report showed an EPS of $1.03, exceeding estimates, with quarterly revenue of $3.10 billion, marking a 12.7% year-over-year increase.

Monetta Financial Services Inc. bought a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,000 shares of the company's stock, valued at approximately $717,000.

A number of other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. grew its stake in Airbnb by 2,297.4% in the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after purchasing an additional 2,685,026 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Airbnb by 512.0% in the fourth 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 during the last quarter. Principal Financial Group Inc. lifted its position in shares of Airbnb by 74.4% in the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after buying an additional 1,389,251 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Airbnb by 119.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock valued at $179,991,000 after buying an additional 820,887 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Airbnb by 52.1% in the fourth 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 during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Brian Chesky sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $128.33, for a total value of $1,026,640.00. Following the completion of the transaction, the chief executive officer directly owned 40,800 shares of the company's stock, valued at $5,235,864. This represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total value of $826,750.00. Following the completion of the transaction, the chief financial officer directly owned 467,611 shares of the company's stock, valued at approximately $61,855,583.08. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,671,023 shares of company stock valued at $223,195,427 over the last three months. Corporate insiders own 27.91% of the company's stock.

Airbnb Trading Up 0.8%

ABNB stock traded up $0.99 during trading on Friday, reaching $121.02. 5,785,507 shares of the stock were exchanged, compared to its average volume of 4,795,555. The firm's 50 day moving average is $134.96 and its 200 day moving average is $130.98. 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 $75.81 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. As a group, analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the subject of a number of recent analyst reports. Wedbush cut their price objective on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday. BMO Capital Markets set a $124.00 price target on Airbnb and gave the stock a "market perform" rating in a report on Thursday. Phillip Securities lowered Airbnb from a "hold" rating to a "moderate sell" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. raised their price objective on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, DA Davidson upgraded Airbnb from a "neutral" rating to a "buy" rating and decreased their price target for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $143.59.

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.