Highland Capital Management LLC Decreases Position in Airbnb, Inc. (NASDAQ:ABNB)

Highland Capital Management LLC lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,559 shares of the company’s stock after selling 1,789 shares during the quarter. Highland Capital Management LLC’s holdings in Airbnb were worth $3,490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salvus Wealth Management LLC lifted its position in shares of Airbnb by 2.5% in the fourth quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after acquiring an additional 84 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in Airbnb by 3.8% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,305 shares of the company’s stock valued at $292,000 after purchasing an additional 85 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Airbnb by 19.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock worth $74,000 after purchasing an additional 94 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Airbnb by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 3,691 shares of the company’s stock worth $468,000 after buying an additional 97 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of Airbnb by 9.9% during the third quarter. Private Trust Co. NA now owns 1,121 shares of the company’s stock worth $142,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Down 0.6 %

Shares of NASDAQ ABNB opened at $131.79 on Friday. 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 stock’s 50-day simple moving average is $133.81 and its 200-day simple moving average is $130.89. The firm has a market cap of $83.55 billion, a price-to-earnings ratio of 46.24, a PEG ratio of 1.80 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the prior year, the firm earned $2.39 earnings per share. As a group, equities analysts anticipate that Airbnb, Inc. will post 3.98 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the sale, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. This represents a 95.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the transaction, the insider now owns 164,850 shares in the company, valued at $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,372,293 shares of company stock valued at $181,759,318 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Piper Sandler lifted their price objective on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Susquehanna increased their target price on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Monday, November 11th. Wells Fargo & Company lowered their price target on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a report on Thursday, January 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of Airbnb in a report on Monday, December 16th. Six investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Airbnb currently has an average rating of “Hold” and an average target price of $139.63.

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.