Vest Financial LLC Takes Position in Airbnb, Inc. $ABNB

Vest Financial LLC purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the second quarter, according to its most recent filing with the SEC. The firm purchased 1,535 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ABNB. GAMMA Investing LLC increased its holdings in shares of Airbnb by 98.9% in the 1st quarter. GAMMA Investing LLC now owns 5,115 shares of the company’s stock valued at $611,000 after acquiring an additional 2,543 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Airbnb by 39.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company’s stock valued at $8,750,000 after acquiring an additional 20,753 shares during the period. Ritholtz Wealth Management increased its holdings 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 acquiring an additional 484 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Airbnb by 0.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 19,325 shares of the company’s stock valued at $2,309,000 after acquiring an additional 147 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Airbnb by 0.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company’s stock worth $6,115,000 after purchasing an additional 228 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ABNB shares. UBS Group lowered their price objective on Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Zacks Research raised Airbnb to a “hold” rating in a research report on Tuesday, August 12th. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Morgan Stanley lowered their price objective on Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Finally, Wedbush lowered their price objective on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $141.81.

Insider Buying and Selling

In other Airbnb news, CFO Elinor Mertz sold 4,630 shares of Airbnb stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the transaction, the chief financial officer owned 444,070 shares in the company, valued at approximately $57,027,469.40. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $120.76, for a total value of $28,499,360.00. Following the transaction, the director owned 1,176,015 shares of the company’s stock, valued at $142,015,571.40. The trade was a 16.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,666,876 shares of company stock worth $210,819,940. Corporate insiders own 27.91% of the company’s stock.

Airbnb Price Performance

Shares of ABNB stock opened at $124.26 on Thursday. The firm has a market capitalization of $77.22 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The business has a fifty day moving average of $123.83 and a 200 day moving average of $127.21. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. The company had revenue of $3.10 billion during 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%.The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. As a group, equities research analysts expect 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.