Highland Capital Management LLC Acquires 171 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Highland Capital Management LLC increased its position in Airbnb, Inc. (NASDAQ:ABNB) by 0.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 40,518 shares of the company’s stock after acquiring an additional 171 shares during the period. Highland Capital Management LLC’s holdings in Airbnb were worth $5,516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Airbnb by 43.0% during the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock worth $4,697,896,000 after buying an additional 10,301,746 shares during the period. Norges Bank acquired a new position in shares of Airbnb in the 4th quarter valued at approximately $332,438,000. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Airbnb in the 3rd quarter valued at approximately $235,338,000. Northern Trust Corp lifted its stake in Airbnb by 41.3% in the 3rd quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock valued at $598,745,000 after acquiring an additional 1,276,456 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Airbnb in the 1st quarter valued at approximately $173,967,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Price Performance

Airbnb stock opened at $166.41 on Thursday. The stock’s 50 day moving average is $154.37 and its 200 day moving average is $139.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market cap of $107.68 billion, a P/E ratio of 22.98, a P/E/G ratio of 2.13 and a beta of 1.25. Airbnb, Inc. has a one year low of $103.55 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.16 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. As a group, research analysts expect that Airbnb, Inc. will post 4.68 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 82,636 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $134.32, for a total transaction of $11,099,667.52. Following the completion of the sale, the chief executive officer now owns 15,282,997 shares in the company, valued at $2,052,812,157.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Nathan Blecharczyk sold 40,000 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $132.82, for a total transaction of $5,312,800.00. Following the completion of the sale, the insider now owns 613,762 shares in the company, valued at $81,519,868.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Chesky sold 82,636 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $134.32, for a total value of $11,099,667.52. Following the completion of the transaction, the chief executive officer now directly owns 15,282,997 shares in the company, valued at approximately $2,052,812,157.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 856,222 shares of company stock worth $126,839,880. 30.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ABNB shares. TheStreet raised Airbnb from a “c-” rating to a “b-” rating in a report on Tuesday, December 12th. Bank of America raised their price target on Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Truist Financial increased their price objective on Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. raised their price target on Airbnb from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Mizuho raised their price target on Airbnb from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $144.96.

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.