PDT Partners LLC Sells 9,214 Shares of Airbnb, Inc. (NASDAQ:ABNB)

PDT Partners LLC decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 22.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,250 shares of the company’s stock after selling 9,214 shares during the period. PDT Partners LLC’s holdings in Airbnb were worth $3,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ABNB. New Millennium Group LLC bought a new position in Airbnb in the 2nd quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of Airbnb in the first quarter worth about $33,000. Cultivar Capital Inc. bought a new position in shares of Airbnb in the second quarter valued at approximately $30,000. Northwest Investment Counselors LLC bought a new position in shares of Airbnb in the third quarter valued at approximately $25,000. Finally, Hollencrest Capital Management grew its stake in Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares in the company, valued at approximately $23,501,280. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 76,923 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $139.94, for a total value of $10,764,604.62. Following the transaction, the chief executive officer now owns 12,616,300 shares of the company’s stock, valued at approximately $1,765,525,022. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 718,017 shares of company stock worth $91,842,052 in the last 90 days. Company insiders own 27.83% of the company’s stock.

Airbnb Stock Down 1.6 %

Shares of NASDAQ ABNB opened at $136.11 on Friday. The firm’s fifty day moving average is $134.15 and its 200 day moving average is $135.40. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a market cap of $86.29 billion, a price-to-earnings ratio of 47.76, a PEG ratio of 1.96 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the previous year, the firm posted $2.39 EPS. On average, equities research analysts expect that Airbnb, Inc. will post 4.02 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on ABNB. Raymond James assumed coverage on shares of Airbnb in a research note on Friday, September 27th. They issued a “market perform” rating and a $134.00 target price on the stock. TD Cowen increased their price objective on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Barclays boosted their target price on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. B. Riley decreased their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group dropped their price target on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $138.97.

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.