Two Sigma Advisers LP Raises Position in Airbnb, Inc. (NASDAQ:ABNB)

Two Sigma Advisers LP grew its position in Airbnb, Inc. (NASDAQ:ABNB) by 512.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,080,300 shares of the company’s stock after acquiring an additional 2,577,000 shares during the period. Airbnb comprises 0.9% of Two Sigma Advisers LP’s portfolio, making the stock its 22nd largest holding. Two Sigma Advisers LP owned 0.49% of Airbnb worth $404,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MJP Associates Inc. ADV boosted its holdings in shares of Airbnb by 1.8% in the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock valued at $490,000 after acquiring an additional 67 shares in the last quarter. CAP Partners LLC boosted its holdings in shares of Airbnb by 3.6% in the fourth quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after acquiring an additional 77 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Airbnb by 1.4% in the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock valued at $728,000 after acquiring an additional 78 shares in the last quarter. Ellevest Inc. boosted its holdings in shares of Airbnb by 3.1% in the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock valued at $349,000 after acquiring an additional 80 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in shares of Airbnb by 18.2% in the fourth quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock valued at $69,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In related news, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $123.43, for a total value of $771,437.50. Following the completion of the sale, the chief financial officer now directly owns 485,080 shares in the company, valued at approximately $59,873,424.40. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $122.84, for a total transaction of $26,322,769.40. Following the completion of the sale, the director now owns 1,866,300 shares of the company’s stock, valued at approximately $229,256,292. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,533,331 shares of company stock worth $195,015,055. 27.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore ISI reduced their price objective on shares of Airbnb from $165.00 to $145.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Airbnb from $160.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. HSBC upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Truist Financial reduced their price objective on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Finally, Benchmark reduced their price objective on shares of Airbnb from $178.00 to $155.00 and set a “buy” rating for the company 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $141.43.

Airbnb Stock Performance

NASDAQ:ABNB opened at $138.00 on Monday. The firm has a 50 day simple moving average of $121.83 and a 200-day simple moving average of $131.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market cap of $86.44 billion, a PE ratio of 33.41, a P/E/G ratio of 3.52 and a beta of 1.14. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data 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). The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. On average, equities analysts expect that Airbnb, Inc. will post 4.31 EPS 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.