Bridgewater Associates LP Raises Position in Airbnb, Inc. (NASDAQ:ABNB)

Bridgewater Associates LP raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 111.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 349,523 shares of the company’s stock after purchasing an additional 184,311 shares during the period. Bridgewater Associates LP owned 0.05% of Airbnb worth $44,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. New Millennium Group LLC purchased a new stake in Airbnb during the 2nd quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new position in shares of Airbnb in the 1st quarter worth about $33,000. Cultivar Capital Inc. purchased a new position in shares of Airbnb during the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new stake in Airbnb in the 3rd quarter worth approximately $25,000. Finally, Hollencrest Capital Management boosted its stake in Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Trading Down 0.9 %

NASDAQ:ABNB opened at $139.67 on Wednesday. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company’s 50-day simple moving average is $133.55 and its 200 day simple moving average is $135.45. The firm has a market capitalization of $88.55 billion, a P/E ratio of 49.01, a PEG ratio of 2.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the firm earned $2.39 earnings per share. As a group, analysts forecast that Airbnb, Inc. will post 4.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $72,000.00. Following the sale, the chief technology officer now owns 195,844 shares in the company, valued at $23,501,280. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the transaction, the director now owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. The trade was a 95.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 641,094 shares of company stock valued at $81,077,447. 27.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Jefferies Financial Group raised their price objective on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Barclays increased their target price on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Finally, Citigroup lifted their price target on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus price target of $138.97.

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.