Highland Capital Management LLC Sells 14,689 Shares of Airbnb, Inc. $ABNB

Key Points

• Highland Capital Management LLC has reduced its stake in Airbnb, Inc. by 37.2%, selling 14,689 shares in the second quarter, leaving it with 24,803 shares valued at approximately $3.28 million.
• Airbnb's stock price has dropped by 1.0%, with current trading at $120.22 and a market cap of $74.71 billion.
• Insiders have significantly sold shares, with a total of 1,673,726 shares worth around $215.82 million sold in the last three months, indicating potential shifts in ownership dynamics.

Highland Capital Management LLC lessened its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 37.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 24,803 shares of the company's stock after selling 14,689 shares during the period. Highland Capital Management LLC's holdings in Airbnb were worth $3,282,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Kentucky Trust Co acquired a new position in shares of Airbnb during the second quarter valued at $25,000. Stonebridge Financial Group LLC lifted its stake in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after acquiring an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC lifted its stake in shares of Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after acquiring an additional 174 shares during the period. Armstrong Advisory Group Inc. lifted its stake in shares of Airbnb by 363.6% during the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company's stock valued at $34,000 after acquiring an additional 200 shares during the period. Finally, SouthState Corp lifted its stake in shares of Airbnb by 216.1% during the first quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after acquiring an additional 201 shares during the period. Institutional investors own 80.76% of the company's stock.

Airbnb Stock Down 1.0%

ABNB stock opened at $120.22 on Friday. The business has a 50 day moving average price of $125.86 and a two-hundred day moving average price of $127.58. The company has a market cap of $74.71 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 2.19 and a beta of 1.10. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the company earned $0.86 earnings per share. The business's revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $135.86, for a total transaction of $849,125.00. Following the completion of the transaction, the chief financial officer directly owned 461,361 shares in the company, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $125.36, for a total value of $29,584,960.00. Following the transaction, the director owned 15 shares of the company's stock, valued at $1,880.40. This represents a 99.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,673,726 shares of company stock worth $215,816,143. 27.91% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ABNB shares. Mizuho started coverage on Airbnb in a research note on Monday, September 29th. They set an "outperform" rating and a $151.00 price target on the stock. Jefferies Financial Group cut their price target on Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Truist Financial cut their price target on Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research note on Wednesday, September 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Airbnb in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. increased their target price on Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, Airbnb has an average rating of "Hold" and an average price target of $141.81.

Airbnb 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.

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