Axxcess Wealth Management LLC Boosts Stock Position in Airbnb, Inc. $ABNB

Axxcess Wealth Management LLC boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,054 shares of the company’s stock after buying an additional 2,603 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Airbnb were worth $3,183,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ABNB. Harris Associates L P increased its holdings in Airbnb by 86.0% in the first quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after buying an additional 4,598,125 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Airbnb by 2,297.4% in the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after buying an additional 2,685,026 shares during the last quarter. AQR Capital Management LLC increased its holdings in Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after buying an additional 1,916,676 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Airbnb by 74.4% in the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after buying an additional 1,389,251 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in Airbnb in the second quarter valued at $170,189,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB opened at $122.89 on Wednesday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The company has a market capitalization of $76.37 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.10. The firm has a 50-day simple moving average of $123.96 and a 200-day simple moving average of $127.23.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Analysts Set New Price Targets

ABNB has been the topic of several recent analyst reports. Zacks Research raised Airbnb to a “hold” rating in a report on Tuesday, August 12th. Citizens Jmp upgraded shares of Airbnb to a “hold” rating in a research note on Monday, August 11th. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the company an “underweight” rating in a research note on Thursday, August 7th. Morgan Stanley decreased their price objective on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a research note on Thursday, August 7th. Finally, BMO Capital Markets set a $124.00 price objective on shares of Airbnb and gave the company a “market perform” rating in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Airbnb presently has a consensus rating of “Hold” and an average target price of $141.81.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $120.46, for a total transaction of $72,276.00. Following the completion of the sale, the chief technology officer owned 197,806 shares in the company, valued at approximately $23,827,710.76. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 4,630 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer owned 444,070 shares of the company’s stock, valued at approximately $57,027,469.40. The trade was a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,431,476 shares of company stock worth $182,766,568 over the last three months. 27.83% of the stock is currently owned by corporate insiders.

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.