Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,627 shares of the company’s stock after selling 4,935 shares during the quarter. Penserra Capital Management LLC’s holdings in Airbnb were worth $2,995,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ABNB. Pacer Advisors Inc. boosted its holdings in Airbnb by 6,085.6% during the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after acquiring an additional 1,684,646 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Airbnb during the 1st quarter valued at about $265,292,000. Edgewood Management LLC increased its stake in shares of Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Airbnb by 19,430.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after purchasing an additional 1,113,747 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB stock opened at $140.93 on Tuesday. 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 has a market cap of $89.35 billion, a P/E ratio of 49.45, a P/E/G ratio of 1.95 and a beta of 1.15. The firm’s 50 day moving average price is $133.19 and its 200-day moving average price is $135.50. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last released 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 firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the company earned $2.39 earnings per share. As a group, equities research analysts predict that Airbnb, Inc. will post 4.02 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on ABNB shares. Bank of America reissued a “hold” rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a report on Friday, October 11th. Royal Bank of Canada reduced their price objective on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group increased their price objective on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Wedbush lifted their price objective on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Phillip Securities reiterated a “reduce” rating and set a $120.00 price objective on shares of Airbnb in a research note on Tuesday, November 12th. 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 company has an average rating of “Hold” and an average price target of $138.97.

Insider Activity at Airbnb

In other Airbnb 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 directly owns 195,844 shares in the company, valued at $23,501,280. This represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the completion of the transaction, the director now owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. This trade represents a 41.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 641,094 shares of company stock worth $81,077,447 in the last three months. 27.83% of the stock is owned by company insiders.

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.