Axxcess Wealth Management LLC Increases Position in Airbnb, Inc. (NASDAQ:ABNB)

Axxcess Wealth Management LLC boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 400.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,451 shares of the company's stock after buying an additional 17,166 shares during the period. 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 and other institutional investors have also modified their holdings of ABNB. Aster Capital Management DIFC Ltd purchased a new stake in shares of Airbnb during the 4th quarter valued at approximately $1,445,000. Ritholtz Wealth Management boosted its holdings in shares of Airbnb by 10.0% in the first 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. Janney Montgomery Scott LLC lifted its holdings 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 valued at $6,115,000 after buying an additional 228 shares during the period. Spire Wealth Management boosted its holdings in Airbnb by 40.1% during the first quarter. Spire Wealth Management now owns 909 shares of the company's stock worth $109,000 after buying an additional 260 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Airbnb by 39.5% during 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 in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. B. Riley lowered their price objective on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Benchmark lowered their target price on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Wells Fargo & Company lifted their price target on Airbnb from $104.00 to $111.00 and gave the stock an "underweight" rating in a research note on Monday. Finally, JMP Securities reiterated a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $141.47.

Airbnb Stock Down 0.7%

Shares of Airbnb stock traded down $1.00 on Friday, hitting $136.01. The stock had a trading volume of 1,277,097 shares, compared to its average volume of 5,366,525. The stock's 50-day simple moving average is $132.80 and its two-hundred day simple moving average is $130.63. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The stock has a market cap of $85.19 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.56 and a beta of 1.13.

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 net margin of 22.60% and a return on equity of 30.91%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business posted $0.41 earnings per share. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the sale, the chief financial officer directly owned 461,361 shares in the company, valued at $62,680,505.46. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $136.27, for a total transaction of $81,762.00. Following the sale, the chief technology officer owned 211,577 shares of the company's stock, valued at approximately $28,831,597.79. The trade was a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,629,143 shares of company stock worth $210,676,703 over the last three months. 27.91% of the stock is owned by insiders.

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.