Avidian Wealth Solutions LLC Invests $264,000 in Airbnb, Inc. (NASDAQ:ABNB)

Avidian Wealth Solutions LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,575 shares of the company’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Airbnb by 119.3% during the second quarter. Bank of New York Mellon Corp now owns 196,390 shares of the company’s stock worth $30,075,000 after acquiring an additional 106,844 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Airbnb by 114.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 69,786 shares of the company’s stock valued at $10,687,000 after buying an additional 37,297 shares during the last quarter. Highland Capital Management LLC increased its holdings in Airbnb by 38.6% in the third quarter. Highland Capital Management LLC now owns 38,691 shares of the company’s stock valued at $6,490,000 after buying an additional 10,781 shares during the last quarter. National Asset Management Inc. increased its holdings in Airbnb by 165.0% in the second quarter. National Asset Management Inc. now owns 16,124 shares of the company’s stock valued at $2,470,000 after buying an additional 10,039 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Airbnb by 5.4% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,700 shares of the company’s stock valued at $2,711,000 after buying an additional 900 shares during the last quarter. 31.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:ABNB opened at $163.99 on Friday. Airbnb, Inc. has a 12-month low of $129.71 and a 12-month high of $219.94. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The company has a market cap of $104.20 billion and a P/E ratio of -13.58. The company’s fifty day moving average is $176.36 and its two-hundred day moving average is $164.28.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, November 3rd. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.38. Airbnb had a negative net margin of 80.74% and a negative return on equity of 116.56%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.06 billion. The firm’s revenue for the quarter was up 66.7% compared to the same quarter last year. Equities research analysts anticipate that Airbnb, Inc. will post 0.41 earnings per share for the current year.

In other Airbnb news, Director Belinda J. Johnson sold 200,000 shares of the company’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $199.95, for a total transaction of $39,990,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Jordan sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 16th. The shares were sold at an average price of $166.25, for a total transaction of $1,662,500.00. The disclosure for this sale can be found here. Insiders sold 1,175,824 shares of company stock worth $215,894,601 over the last ninety days. 36.30% of the stock is currently owned by company insiders.

Several analysts recently weighed in on the company. Truist Securities boosted their price objective on Airbnb from $160.00 to $180.00 and gave the company a “hold” rating in a report on Monday, November 8th. DA Davidson upped their target price on Airbnb from $174.00 to $230.00 and gave the company a “buy” rating in a report on Monday, November 8th. Truist upped their target price on Airbnb from $160.00 to $180.00 and gave the company a “hold” rating in a report on Monday, November 8th. They noted that the move was a valuation call. Credit Suisse Group upped their target price on Airbnb from $167.00 to $179.00 and gave the company a “neutral” rating in a report on Friday, November 5th. Finally, UBS Group assumed coverage on Airbnb in a report on Thursday, December 2nd. They set a “neutral” rating and a $176.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and a consensus price target of $189.79.

Airbnb Profile

Airbnb, Inc, together with its subsidiaries, operates a platform for stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms and luxury villas. The company was formerly known as AirBed & Breakfast, Inc and changed its name to Airbnb, Inc in November 2010.

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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