Penbrook Management LLC Reduces Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Penbrook Management LLC trimmed its stake in Airbnb, Inc. (NASDAQ:ABNB) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,850 shares of the company’s stock after selling 400 shares during the period. Penbrook Management LLC’s holdings in Airbnb were worth $1,163,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ABNB. Pacer Advisors Inc. grew its position in Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares during the last quarter. Meritage Group LP acquired a new stake in shares of Airbnb in the 3rd quarter worth $160,985,000. Edgewood Management LLC lifted 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 worth $1,722,388,000 after acquiring an additional 1,143,464 shares during the period. International Assets Investment Management LLC lifted 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 worth $1,419,610,000 after acquiring an additional 1,113,747 shares during the period. Finally, Temasek Holdings Private Ltd lifted its stake in shares of Airbnb by 91.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock worth $294,726,000 after acquiring an additional 1,109,076 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Price Performance

ABNB stock opened at $132.58 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The firm has a market cap of $84.05 billion, a P/E ratio of 46.52, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. The stock has a 50-day simple moving average of $133.84 and a 200-day simple moving average of $130.88.

Airbnb (NASDAQ:ABNB) last posted its earnings results 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). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the business posted $2.39 EPS. On average, equities analysts predict that Airbnb, Inc. will post 3.98 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 76,923 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total transaction 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 $1,765,525,022. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the transaction, the director now directly owns 10,321 shares in the company, valued at approximately $1,352,876.68. This represents a 95.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,157,308 shares of company stock valued at $153,981,848. Insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America raised their target price on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Citigroup raised their price objective on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Morgan Stanley increased their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Finally, Barclays upped their price objective on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $139.63.

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.