Bourgeon Capital Management LLC Invests $419,000 in Airbnb, Inc. $ABNB

Bourgeon Capital Management LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,169 shares of the company’s stock, valued at approximately $419,000.

A number of other hedge funds have also added to or reduced their stakes in the company. York GP Ltd. acquired a new stake in Airbnb in the second quarter valued at approximately $6,617,000. Janney Montgomery Scott LLC boosted its position in Airbnb by 5.9% in the second quarter. Janney Montgomery Scott LLC now owns 54,212 shares of the company’s stock valued at $7,174,000 after buying an additional 3,020 shares in the last quarter. SWS Partners boosted its position in Airbnb by 3.3% in the second quarter. SWS Partners now owns 14,004 shares of the company’s stock valued at $1,853,000 after buying an additional 451 shares in the last quarter. GC Wealth Management RIA LLC acquired a new stake in Airbnb in the second quarter valued at approximately $2,131,000. Finally, Scott & Selber Inc. acquired a new position in shares of Airbnb during the second quarter worth $2,470,000. 80.76% of the stock is owned by institutional investors.

Insider Activity at Airbnb

In other news, CAO David C. Bernstein sold 5,000 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer owned 42,619 shares of the company’s stock, valued at $6,051,898. This represents a 10.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the completion of the transaction, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. The trade was a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,438,326 shares of company stock worth $186,735,385 over the last quarter. 27.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABNB. Morgan Stanley cut their price target on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a report on Thursday, August 7th. BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the stock a “market perform” rating in a research note on Thursday, August 7th. BNP Paribas raised shares of Airbnb to a “hold” rating in a research note on Wednesday, July 16th. Truist Financial lowered their target price on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a research note on Wednesday, September 3rd. Finally, Zacks Research raised shares of Airbnb to a “hold” rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $141.46.

Airbnb Stock Down 0.6%

ABNB opened at $122.92 on Tuesday. The stock has a market cap of $76.39 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.26 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company’s 50-day moving average price is $127.39 and its two-hundred day moving average price is $127.71.

Airbnb (NASDAQ:ABNB) last released its 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. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.