Tiger Cub Chase Coleman is Selling These 5 Tech Stocks

1. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 63

Airbnb, Inc. (NASDAQ:ABNB) is a California-based travel technology firm that offers lodging and vacation rentals to users around the world. Chase Coleman acquired a position in Airbnb, Inc. (NASDAQ:ABNB) in the fourth quarter of 2020, buying 650,000 shares worth $95.4 million. The stake was valued at $108.2 million in Q4 2021, and it was disposed of completely in Q1 2022. 

Truist analyst Naved Khan informed investors on May 11 that Airbnb, Inc. (NASDAQ:ABNB)’s new customer-focused features are likely to contribute towards greater conversion, guest retention, and repeat bookings. The analyst maintained a Hold rating and a $190 price target on the shares, adding that the features enhance guest flexibility and efficiently increase the inventory available for longer stays, and are likely to result in higher listings on the platform.

Among the hedge funds tracked by Insider Monkey, 63 funds were long Airbnb, Inc. (NASDAQ:ABNB) at the end of the fourth quarter of 2021, up from 58 funds in the earlier quarter. In Q1 2022, Jim Simons’ Renaissance Technologies reported a prominent stake in the company, comprising 3.40 million shares worth $584.6 million. 

Here is what Tollymore Investment Partners has to say about Airbnb, Inc. (NASDAQ:ABNB) in its Q3 2021 investor letter:

“Today disruptors are not typically seeking to replace incumbents entirely. Rather, they break the links in the customer journey, in doing so better aligning monetisation with value creation and minimizing externalities. For example, Airbnb broke the link between staying in residential property and owning it. Airbnb is a specific example of a business model innovation which separated asset use from ownership. This is hardly a novel idea; it’s called renting. Rental models lend themselves to assets which are expensive and durable, and where usage is infrequent.”

You can also take a look at Kim Schrier Stock Portfolio: 10 Stocks To Consider and Robert Pohly’s Samlyn Capital Portfolio: 10 Dividend Stock Picks. 

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