MGO One Seven LLC Has $1.19 Million Stock Position in Airbnb, Inc. $ABNB

Key Points

• MGO One Seven LLC increased its position in Airbnb by 34.4%, holding shares valued at $1.19 million after purchasing additional shares in the second quarter.
• Insider trading activity included substantial sales, with Director Joseph Gebbia selling 236,000 shares for over $28 million, reducing his ownership by 25.11%.
• Brokerage firms have recently cut their price targets on Airbnb, with a range of ratings from Strong Buy to Sell, while the stock currently holds an average target price of $141.81.

MGO One Seven LLC increased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 34.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,016 shares of the company's stock after purchasing an additional 2,306 shares during the period. MGO One Seven LLC's holdings in Airbnb were worth $1,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. GW Henssler & Associates Ltd. boosted its holdings in Airbnb by 2.4% in the second quarter. GW Henssler & Associates Ltd. now owns 132,520 shares of the company's stock worth $17,538,000 after acquiring an additional 3,105 shares in the last quarter. LRI Investments LLC boosted its holdings in Airbnb by 152.0% in the second quarter. LRI Investments LLC now owns 1,172 shares of the company's stock worth $155,000 after acquiring an additional 707 shares in the last quarter. Summa Corp. bought a new position in Airbnb in the second quarter worth approximately $203,000. Concurrent Investment Advisors LLC boosted its holdings in Airbnb by 2.1% in the second quarter. Concurrent Investment Advisors LLC now owns 6,767 shares of the company's stock worth $896,000 after acquiring an additional 141 shares in the last quarter. Finally, waypoint wealth counsel boosted its holdings in Airbnb by 15.8% in the second quarter. waypoint wealth counsel now owns 2,035 shares of the company's stock worth $269,000 after acquiring an additional 278 shares in the last quarter. Institutional investors own 80.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABNB. UBS Group cut their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Truist Financial cut their price target on Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a report on Wednesday, September 3rd. Wedbush cut their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company set a $110.00 target price on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $141.81.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, October 13th. The stock was sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the sale, the director directly owned 704,015 shares in the company, valued at approximately $83,932,668.30. This trade represents a 25.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Elinor Mertz sold 4,630 shares of Airbnb stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total value of $594,584.60. Following the sale, the chief financial officer owned 444,070 shares in the company, valued at $57,027,469.40. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,666,876 shares of company stock valued at $210,819,940. 27.91% of the stock is owned by insiders.

Airbnb Stock Up 1.1%

ABNB stock opened at $124.26 on Thursday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock's 50 day moving average is $123.83 and its 200-day moving average is $127.21. The firm has a market capitalization of $77.22 billion, a PE ratio of 30.09, a P/E/G ratio of 2.24 and a beta of 1.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.Airbnb's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. On average, equities research analysts anticipate 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.

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