HighMark Wealth Management LLC Increases Stock Position in Airbnb, Inc. $ABNB

HighMark Wealth Management LLC lifted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 137.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,188 shares of the company’s stock after purchasing an additional 688 shares during the period. HighMark Wealth Management LLC’s holdings in Airbnb were worth $157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABNB. Kentucky Trust Co purchased a new stake in shares of Airbnb during the second quarter worth about $25,000. Stonebridge Financial Group LLC lifted its stake in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after buying an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock worth $31,000 after buying an additional 174 shares during the last quarter. Armstrong Advisory Group Inc. increased its stake in Airbnb by 363.6% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after buying an additional 200 shares in the last quarter. Finally, SouthState Corp raised its holdings 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 last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

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

Airbnb Stock Performance

ABNB stock opened at $121.49 on Friday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The firm has a market cap of $75.50 billion, a PE ratio of 29.42, a PEG ratio of 2.23 and a beta of 1.10. The firm’s 50 day moving average price is $126.28 and its 200-day moving average price is $127.60.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ABNB shares. Jefferies Financial Group lowered 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. JPMorgan Chase & Co. lifted their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Mizuho started coverage on shares of Airbnb in a report on Monday. They issued an “outperform” rating and a $151.00 price objective for the company. Phillip Securities upgraded Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. Finally, Morgan Stanley cut their price target on Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.