PDT Partners LLC Has $8.87 Million Position in Airbnb, Inc. $ABNB

Key Points

• PDT Partners LLC increased its stake in Airbnb, Inc. by 63.7%, owning 74,254 shares worth approximately $8.87 million as of the end of the most recent quarter.
• Airbnb's institutional ownership stands at 80.76%, indicating strong confidence from institutional investors.
• Insider trading activity included significant sales, with executives selling over 1.4 million shares worth nearly $192 million in the last quarter.

PDT Partners LLC increased its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 63.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,254 shares of the company's stock after purchasing an additional 28,904 shares during the period. Airbnb accounts for 0.6% of PDT Partners LLC's portfolio, making the stock its 7th biggest position. PDT Partners LLC's holdings in Airbnb were worth $8,870,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. GW Henssler & Associates Ltd. increased its stake in shares of Airbnb by 278.7% in the 1st quarter. GW Henssler & Associates Ltd. now owns 129,415 shares of the company's stock worth $15,460,000 after acquiring an additional 95,238 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Airbnb in the 1st quarter worth about $6,617,000. Focus Partners Advisor Solutions LLC increased its stake in shares of Airbnb by 547.9% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,548 shares of the company's stock worth $1,260,000 after acquiring an additional 8,920 shares in the last quarter. Harris Associates L P increased its stake in shares of Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after acquiring an additional 4,598,125 shares in the last quarter. Finally, One Wealth Capital Management LLC increased its stake in shares of Airbnb by 20.9% in the 1st quarter. One Wealth Capital Management LLC now owns 5,088 shares of the company's stock worth $608,000 after acquiring an additional 880 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABNB. Wedbush decreased their price target on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Truist Financial decreased their price target on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a research note on Wednesday. Royal Bank Of Canada raised their price objective on shares of Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. BMO Capital Markets set a $124.00 price target on shares of Airbnb and gave the company a "market perform" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group reduced their price target on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, Airbnb currently has a consensus rating of "Hold" and an average price target of $142.66.

Insider Buying and Selling

In other news, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares of the company's stock, valued at $62,680,505.46. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares in the company, valued at approximately $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,674,926 shares of company stock valued at $221,778,833. 27.91% of the stock is owned by insiders.

Airbnb Price Performance

Shares of ABNB traded up $0.47 on Thursday, reaching $125.37. The company's stock had a trading volume of 6,118,908 shares, compared to its average volume of 5,248,229. The stock has a market capitalization of $77.91 billion, a P/E ratio of 30.36, a PEG ratio of 2.38 and a beta of 1.13. The stock's 50 day simple moving average is $132.02 and its two-hundred day simple moving average is $129.99. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. Analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.