PDS Planning Inc Sells 394 Shares of Airbnb, Inc. (NASDAQ:ABNB)

PDS Planning Inc cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 17.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,905 shares of the company’s stock after selling 394 shares during the quarter. PDS Planning Inc’s holdings in Airbnb were worth $242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. QRG Capital Management Inc. lifted its stake in shares of Airbnb by 6.7% in the 3rd quarter. QRG Capital Management Inc. now owns 29,417 shares of the company’s stock valued at $3,730,000 after purchasing an additional 1,857 shares during the period. Asset Management One Co. Ltd. lifted its position in Airbnb by 2.8% during the third quarter. Asset Management One Co. Ltd. now owns 197,942 shares of the company’s stock valued at $25,101,000 after buying an additional 5,431 shares during the period. National Pension Service lifted its position in Airbnb by 13.0% during the third quarter. National Pension Service now owns 903,040 shares of the company’s stock valued at $114,515,000 after buying an additional 104,018 shares during the period. Cohen Capital Management Inc. bought a new stake in shares of Airbnb during the 3rd quarter valued at $648,000. Finally, HS Management Partners LLC grew its position in shares of Airbnb by 186.4% in the 3rd quarter. HS Management Partners LLC now owns 298,395 shares of the company’s stock worth $37,839,000 after buying an additional 194,220 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb 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 $750,000.00. Following the transaction, the chief financial officer now directly owns 537,072 shares in the company, valued at approximately $64,448,640. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 417,806 shares of company stock worth $51,809,831. 27.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ABNB. Raymond James assumed coverage on shares of Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective on the stock. The Goldman Sachs Group reduced their price target on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Piper Sandler lowered their price target on Airbnb from $155.00 to $125.00 and set a “neutral” 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 research report on Tuesday, October 22nd. Finally, Wedbush decreased their target price on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $135.35.

Airbnb Price Performance

Airbnb stock opened at $137.82 on Wednesday. The stock has a market cap of $88.43 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.93 and a beta of 1.15. The firm has a 50-day moving average of $127.29 and a two-hundred day moving average of $137.91. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. On average, research analysts forecast that Airbnb, Inc. will post 4.17 earnings per share for the current year.

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.