UNIVEST FINANCIAL Corp Invests $1.90 Million in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• UNIVEST FINANCIAL Corp acquired 15,905 shares of Airbnb, Inc. valued at approximately $1.9 million during the first quarter.
• Several hedge funds increased their positions in Airbnb, with 80.76% of the stock now owned by institutional investors and hedge funds.
• Airbnb's stock price and ratings have been adjusted by various analysts, with the consensus rating currently at "Hold" and a target price of $142.10.

UNIVEST FINANCIAL Corp acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,905 shares of the company's stock, valued at approximately $1,900,000.

A number of other institutional investors also recently bought and sold shares of ABNB. MJP Associates Inc. ADV grew its holdings in shares of Airbnb by 1.8% during the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock valued at $490,000 after buying an additional 67 shares during the last quarter. Ellevest Inc. boosted its holdings in Airbnb by 3.1% in the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock worth $349,000 after purchasing an additional 80 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Airbnb by 12.2% in the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after purchasing an additional 80 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in Airbnb by 4.4% in the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after purchasing an additional 83 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in Airbnb by 7.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after purchasing an additional 90 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Up 2.3%

Shares of NASDAQ:ABNB traded up $2.94 during midday trading on Monday, reaching $130.96. The company's stock had a trading volume of 5,270,967 shares, compared to its average volume of 3,508,969. The firm has a market capitalization of $82.03 billion, a PE ratio of 33.07, a P/E/G ratio of 2.38 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 stock has a fifty day moving average of $135.13 and a 200 day moving average of $131.21.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The firm's revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Susquehanna dropped their target price on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a report on Monday, May 5th. Piper Sandler dropped their target price on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI decreased their price target on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Finally, UBS Group increased their price target on Airbnb from $137.00 to $156.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Airbnb presently has a consensus rating of "Hold" and a consensus price target of $142.10.

Insider Activity

In related news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the sale, the director owned 472,015 shares in the company, valued at approximately $65,529,842.45. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $139.39, for a total transaction of $83,634.00. Following the transaction, the chief technology officer directly owned 209,777 shares in the company, valued at approximately $29,240,816.03. The trade was a 0.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,649,308 shares of company stock worth $218,906,636 in the last ninety days. Corporate insiders own 27.83% of the company's stock.

Airbnb Company 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.