Airbnb, Inc. (NASDAQ:ABNB) Position Reduced by Penserra Capital Management LLC

Penserra Capital Management LLC cut its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,755 shares of the company's stock after selling 3,337 shares during the quarter. Penserra Capital Management LLC's holdings in Airbnb were worth $3,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in Airbnb during the fourth quarter worth about $1,445,000. Ritholtz Wealth Management boosted its stake in Airbnb by 10.0% during the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after buying an additional 484 shares during the period. Janney Montgomery Scott LLC boosted its stake in Airbnb by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock worth $6,115,000 after buying an additional 228 shares during the period. Spire Wealth Management boosted its stake in Airbnb by 40.1% during the first quarter. Spire Wealth Management now owns 909 shares of the company's stock worth $109,000 after buying an additional 260 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Airbnb by 39.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company's stock worth $8,750,000 after buying an additional 20,753 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Susquehanna lowered their target price on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research note on Monday, May 5th. UBS Group reduced their target price on shares of Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Wells Fargo & Company raised their target price on shares of Airbnb from $104.00 to $111.00 and gave the company an "underweight" rating in a report on Monday. Robert W. Baird cut their price objective on shares of Airbnb from $175.00 to $160.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Finally, DA Davidson upgraded shares of Airbnb from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $170.00 to $155.00 in a research report on Wednesday, April 30th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $141.47.

Airbnb Trading Down 1.2%

Shares of NASDAQ:ABNB traded down $1.65 during midday trading on Friday, hitting $135.35. 3,053,829 shares of the stock were exchanged, compared to its average volume of 5,030,517. The company has a 50 day moving average price of $133.00 and a 200-day moving average price of $130.63. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock has a market cap of $84.78 billion, a P/E ratio of 34.18, a PEG ratio of 2.57 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The company's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. On average, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total value of $30,363,760.00. Following the transaction, the director owned 1,416,015 shares in the company, valued at approximately $182,184,489.90. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Chesky sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the sale, the chief executive officer owned 40,800 shares of the company's stock, valued at approximately $5,235,864. This represents a 16.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,629,143 shares of company stock worth $210,676,703 in the last three months. Company insiders own 27.91% of the company's stock.

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.