Axxcess Wealth Management LLC Has $2.56 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Axxcess Wealth Management LLC increased its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 400.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,451 shares of the company's stock after acquiring an additional 17,166 shares during the quarter. Axxcess Wealth Management LLC's holdings in Airbnb were worth $2,563,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Park Square Financial Group LLC purchased a new position in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC acquired a new stake in shares of Airbnb in the fourth quarter worth $28,000. Stonebridge Financial Group LLC grew its holdings in shares of 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 buying an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its position 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 buying an additional 174 shares during the period. Finally, Graney & King LLC acquired a new position in Airbnb during the fourth quarter valued at $32,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Down 1.2%

Shares of NASDAQ:ABNB traded down $1.65 during trading on Friday, reaching $135.35. The stock had a trading volume of 3,053,829 shares, compared to its average volume of 5,030,517. The stock has a fifty day simple moving average of $133.00 and a two-hundred day simple moving average of $130.63. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The firm has a market capitalization of $84.78 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 2.57 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The business's revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. On average, analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ABNB. Barclays decreased their price objective on Airbnb from $120.00 to $103.00 and set an "underweight" rating for the company in a research report on Friday, May 2nd. Robert W. Baird reduced their price target on shares of Airbnb from $175.00 to $160.00 and set an "outperform" rating for the company in a research report on Tuesday, March 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Wedbush lowered shares of Airbnb from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $150.00 to $135.00 in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald reiterated an "underweight" rating and issued a $100.00 target price on shares of Airbnb in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $141.47.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $128.66, for a total value of $30,363,760.00. Following the sale, the director owned 1,416,015 shares of the company's stock, valued at $182,184,489.90. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Chesky sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $128.33, for a total value of $1,026,640.00. Following the transaction, the chief executive officer owned 40,800 shares of the company's stock, valued at approximately $5,235,864. This trade represents a 16.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,629,143 shares of company stock valued at $210,676,703. Insiders own 27.91% of the company's stock.

About Airbnb

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.