Apollon Wealth Management LLC Grows Stake in Airbnb, Inc. (NASDAQ:ABNB)

Apollon Wealth Management LLC grew its position in Airbnb, Inc. (NASDAQ:ABNB) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,705 shares of the company’s stock after purchasing an additional 328 shares during the period. Apollon Wealth Management LLC’s holdings in Airbnb were worth $1,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ABNB. Avantax Advisory Services Inc. grew its holdings in Airbnb by 19.9% in the first quarter. Avantax Advisory Services Inc. now owns 4,416 shares of the company’s stock worth $728,000 after purchasing an additional 732 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Airbnb during the first quarter valued at $235,000. SageView Advisory Group LLC grew its holdings in shares of Airbnb by 6.2% during the first quarter. SageView Advisory Group LLC now owns 2,995 shares of the company’s stock valued at $494,000 after buying an additional 175 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Airbnb by 6.4% during the first quarter. Orion Portfolio Solutions LLC now owns 41,323 shares of the company’s stock valued at $6,817,000 after buying an additional 2,470 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in shares of Airbnb by 30.2% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,959 shares of the company’s stock valued at $323,000 after buying an additional 454 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated 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 directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the sale, the director now directly owns 16,472 shares in the company, valued at $2,083,378.56. The trade was a 72.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,806 shares of company stock worth $51,809,831 in the last 90 days. Company insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Shares of ABNB opened at $134.56 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a 50 day simple moving average of $130.25 and a 200 day simple moving average of $136.96. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The firm has a market capitalization of $86.34 billion, a PE ratio of 47.21, a P/E/G ratio of 1.88 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the company posted $2.39 EPS. Sell-side analysts predict that Airbnb, Inc. will post 4.04 EPS for the current fiscal year.

Analyst Ratings Changes

ABNB has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. Truist Financial decreased their target price on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Raymond James initiated coverage on shares of Airbnb in a research report on Friday, September 27th. They set a “market perform” rating and a $134.00 target price for the company. Morgan Stanley boosted their target price on shares of Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Mizuho decreased their target price on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $139.31.

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.