PDT Partners LLC Trims Stake in Airbnb, Inc. (NASDAQ:ABNB)

PDT Partners LLC lessened its position in Airbnb, Inc. (NASDAQ:ABNB) by 22.8% in the third quarter, HoldingsChannel reports. The firm owned 31,250 shares of the company’s stock after selling 9,214 shares during the quarter. PDT Partners LLC’s holdings in Airbnb were worth $3,963,000 as of its most recent SEC filing.

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

Airbnb Stock Down 1.6 %

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

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

Analyst Ratings Changes

A number of brokerages have weighed in on ABNB. BMO Capital Markets decreased their target price on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. B. Riley reduced their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Robert W. Baird upped their price target on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, November 8th. DA Davidson lifted their price objective on Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Finally, Citigroup upped their target price on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Airbnb presently has an average rating of “Hold” and an average target price of $138.97.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 76,923 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $139.94, for a total transaction of $10,764,604.62. Following the completion of the transaction, the chief executive officer now owns 12,616,300 shares of the company’s stock, valued at $1,765,525,022. This represents a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $750,000.00. Following the transaction, the chief financial officer now owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 718,017 shares of company stock worth $91,842,052 in the last three months. 27.83% of the stock is owned by company insiders.

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.