Mount Vernon Associates Inc. MD Buys 740 Shares of Airbnb, Inc. $ABNB

Mount Vernon Associates Inc. MD raised its stake in Airbnb, Inc. (NASDAQ:ABNB) by 8.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,015 shares of the company’s stock after buying an additional 740 shares during the period. Airbnb comprises about 0.9% of Mount Vernon Associates Inc. MD’s investment portfolio, making the stock its 28th biggest position. Mount Vernon Associates Inc. MD’s holdings in Airbnb were worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sit Investment Associates Inc. increased its holdings in shares of Airbnb by 42.8% in the 1st quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company’s stock worth $2,015,000 after buying an additional 5,060 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in shares of Airbnb by 74.8% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company’s stock valued at $2,451,000 after purchasing an additional 8,780 shares in the last quarter. Plato Investment Management Ltd boosted its stake in shares of Airbnb by 53.1% in the 1st quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock valued at $2,291,000 after purchasing an additional 6,579 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Airbnb by 52.9% in the 1st quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock valued at $293,590,000 after purchasing an additional 850,719 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Airbnb by 10.0% in the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company’s stock valued at $636,000 after purchasing an additional 484 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Analyst Ratings Changes

ABNB has been the subject of a number of research reports. Barclays set a $105.00 price objective on shares of Airbnb and gave the company an “underweight” rating in a research note on Thursday, August 7th. Mizuho initiated coverage on shares of Airbnb in a research note on Monday, September 29th. They issued an “outperform” rating and a $151.00 price objective for the company. UBS Group cut their price objective on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Wedbush cut their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada increased their price target on shares of Airbnb from $140.00 to $145.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average target price of $141.81.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of Airbnb 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 directly owned 15 shares of the company’s stock, valued at $1,880.40. This trade represents a 99.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares of the company’s stock, valued at approximately $6,051,898. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,673,726 shares of company stock valued at $215,816,143 in the last three months. Company insiders own 27.91% of the company’s stock.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $120.22 on Friday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The stock has a market cap of $74.71 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 2.19 and a beta of 1.10. The firm has a 50-day moving average of $125.86 and a 200 day moving average of $127.58.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the company posted $0.86 EPS. Airbnb’s revenue was up 12.7% on a year-over-year basis. Research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal 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.