Apollon Wealth Management LLC Has $1.11 Million Stake in Airbnb, Inc. $ABNB

Apollon Wealth Management LLC trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,377 shares of the company’s stock after selling 226 shares during the period. Apollon Wealth Management LLC’s holdings in Airbnb were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ABNB. Harris Associates L P increased its holdings in Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after buying an additional 4,598,125 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of 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 purchasing an additional 2,685,026 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 1,916,676 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 purchasing an additional 1,389,251 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new position in shares of Airbnb in the second quarter valued at $170,189,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABNB has been the topic of several research reports. UBS Group decreased their price objective on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Truist Financial decreased their price objective on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Airbnb in a report on Wednesday, October 8th. Mizuho initiated coverage on shares of Airbnb in a report on Monday, September 29th. They issued an “outperform” rating and a $151.00 price objective on the stock. Finally, BMO Capital Markets set a $124.00 price objective on shares of Airbnb and gave the company a “market perform” rating in a report 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $141.81.

Airbnb Stock Performance

ABNB stock opened at $122.89 on Wednesday. The company’s 50-day simple moving average is $123.96 and its 200 day simple moving average is $127.23. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The company has a market capitalization of $76.37 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Airbnb’s revenue was up 12.7% compared to the same quarter last year. On average, analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s 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 of the company’s stock, valued at $23,827,710.76. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Elinor Mertz sold 4,630 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the sale, the chief financial officer directly owned 444,070 shares of the company’s stock, valued at $57,027,469.40. This represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,431,476 shares of company stock worth $182,766,568. 27.83% of the stock is owned by company 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.