Highland Capital Management LLC Buys 441 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Highland Capital Management LLC boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 1.5% during the second quarter, Holdings Channel.com reports. The fund owned 29,634 shares of the company’s stock after acquiring an additional 441 shares during the period. Highland Capital Management LLC’s holdings in Airbnb were worth $4,493,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its position in Airbnb by 27.6% during the fourth quarter. CWM LLC now owns 8,457 shares of the company’s stock worth $1,151,000 after purchasing an additional 1,829 shares during the period. Duality Advisers LP bought a new position in Airbnb in the fourth quarter valued at about $315,000. GAMMA Investing LLC acquired a new stake in shares of Airbnb during the fourth quarter valued at about $180,000. Yousif Capital Management LLC grew its holdings in shares of Airbnb by 0.5% during the fourth quarter. Yousif Capital Management LLC now owns 54,595 shares of the company’s stock worth $7,433,000 after purchasing an additional 268 shares during the last quarter. Finally, Bfsg LLC acquired a new position in shares of Airbnb in the fourth quarter valued at approximately $27,000. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABNB. Barclays cut their target price on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Robert W. Baird lowered their target price on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. HSBC lowered Airbnb from a “buy” rating to a “hold” rating and reduced their price target for the company from $160.00 to $156.00 in a research report on Thursday, May 9th. Susquehanna lowered their price objective on Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their target price on Airbnb from $129.00 to $100.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus target price of $137.00.

Airbnb Stock Up 1.2 %

Shares of Airbnb stock traded up $1.40 during trading hours on Friday, reaching $116.85. The company’s stock had a trading volume of 4,998,414 shares, compared to its average volume of 4,595,931. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s fifty day simple moving average is $138.42 and its two-hundred day simple moving average is $149.45. The company has a market capitalization of $75.26 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.67 and a beta of 1.18. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. On average, research analysts forecast that Airbnb, Inc. will post 4.66 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $146.00, for a total value of $87,600.00. Following the completion of the transaction, the chief technology officer now directly owns 211,774 shares of the company’s stock, valued at $30,919,004. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $146.08, for a total value of $16,855,440.80. Following the completion of the sale, the chief executive officer now owns 14,260,457 shares in the company, valued at $2,083,167,558.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $146.00, for a total transaction of $87,600.00. Following the completion of the transaction, the chief technology officer now owns 211,774 shares in the company, valued at approximately $30,919,004. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 735,492 shares of company stock valued at $109,386,004. 27.83% of the stock is owned by insiders.

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.