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

Axxcess Wealth Management LLC decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,526 shares of the company’s stock after selling 485 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Airbnb were worth $686,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Airbnb in the 1st quarter valued at $7,628,000. Rafferty Asset Management LLC increased its holdings in Airbnb by 18.4% in the fourth quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after buying an additional 22,551 shares during the last quarter. SteelPeak Wealth LLC raised its position in shares of Airbnb by 17.2% during the 1st quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after acquiring an additional 985 shares in the last quarter. ProShare Advisors LLC raised its holdings in Airbnb by 20.6% during the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock worth $80,644,000 after purchasing an additional 83,383 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its position in shares of Airbnb by 35.8% during the 4th quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock worth $19,503,000 after buying an additional 37,785 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Joseph Gebbia sold 5,442 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $150.00, for a total transaction of $816,300.00. Following the transaction, the director now directly owns 42,087 shares in the company, valued at $6,313,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The disclosure for this sale can be found here. Insiders have sold 685,451 shares of company stock worth $95,552,289 in the last three months. Corporate insiders own 27.83% of the company’s stock.

Airbnb Trading Up 5.2 %

Shares of Airbnb stock opened at $128.75 on Friday. The company has a 50-day moving average of $126.26 and a two-hundred day moving average of $145.03. The stock has a market cap of $82.92 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, research analysts anticipate that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ABNB. UBS Group cut their price target on shares of Airbnb from $160.00 to $134.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. BMO Capital Markets cut their price target on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Finally, Barclays lowered their target price on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $134.17.

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.