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

Key Points

• Bourgeon Capital Management LLC has invested approximately $419,000 in Airbnb, acquiring 3,169 shares during the second quarter.
• Insider Nathan Blecharczyk sold 2,246 shares, while Director Joseph Gebbia sold 236,000 shares, indicating significant insider activity.
• Airbnb reported a quarterly earnings per share of $1.03, exceeding analysts' expectations, and its revenue was up 12.7% year-over-year.

Bourgeon Capital Management LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,169 shares of the company's stock, valued at approximately $419,000.

Other institutional investors have also made changes to their positions in the company. Kentucky Trust Co bought a new position in shares of Airbnb in the second quarter worth about $25,000. Stonebridge Financial Group LLC increased its stake in 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. Armstrong Advisory Group Inc. increased its stake in 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. Bartlett & CO. Wealth Management LLC increased its stake in 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. Finally, SouthState Corp increased its stake in 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. 80.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Nathan Blecharczyk sold 2,246 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the transaction, the insider directly owned 182,514 shares of the company's stock, valued at approximately $22,850,752.80. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $120.76, for a total transaction of $28,499,360.00. Following the completion of the transaction, the director directly owned 1,176,015 shares of the company's stock, valued at approximately $142,015,571.40. The trade was a 16.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,438,326 shares of company stock worth $186,735,385 in the last 90 days. Corporate insiders own 27.83% of the company's stock.

Airbnb Price Performance

ABNB stock opened at $122.92 on Tuesday. The company has a 50 day moving average price of $127.39 and a 200 day moving average price of $127.71. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a market capitalization of $76.39 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted 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. The firm had revenue of $3.10 billion during 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%. Airbnb's revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. As a group, equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABNB. BMO Capital Markets set a $124.00 price target on Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. Barclays set a $105.00 price target on Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Zacks Research raised Airbnb to a "hold" rating in a report on Tuesday, August 12th. Citizens Jmp raised Airbnb to a "hold" rating in a report on Monday, August 11th. Finally, Wedbush decreased their price objective on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $141.46.

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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