Steele Capital Management Inc. Purchases New Position in Airbnb, Inc. (NASDAQ:ABNB)

Steele Capital Management Inc. purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,045 shares of the company’s stock, valued at approximately $415,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ABNB. Vanguard Group Inc. lifted its holdings in Airbnb by 43.0% during the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock worth $4,697,896,000 after acquiring an additional 10,301,746 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Airbnb by 41.3% during the 3rd quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock valued at $598,745,000 after purchasing an additional 1,276,456 shares in the last quarter. Legal & General Group Plc grew its position in shares of Airbnb by 5.0% in the 3rd quarter. Legal & General Group Plc now owns 2,568,807 shares of the company’s stock valued at $352,466,000 after purchasing an additional 121,651 shares during the period. Alphinity Investment Management Pty Ltd increased its stake in Airbnb by 48.3% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after purchasing an additional 813,074 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Airbnb by 69.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,301,395 shares of the company’s stock worth $315,774,000 after buying an additional 943,520 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $157.24, for a total transaction of $94,344.00. Following the completion of the transaction, the chief technology officer now owns 221,104 shares of the company’s stock, valued at $34,766,392.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Airbnb news, insider Nathan Blecharczyk sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $146.58, for a total transaction of $8,794,800.00. Following the completion of the transaction, the insider now owns 473,762 shares in the company, valued at approximately $69,444,033.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $157.24, for a total transaction of $94,344.00. Following the completion of the transaction, the chief technology officer now owns 221,104 shares in the company, valued at approximately $34,766,392.96. The disclosure for this sale can be found here. Insiders have sold 456,274 shares of company stock valued at $72,410,859 in the last ninety days. 27.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABNB shares. UBS Group reduced their price target on shares of Airbnb from $148.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Benchmark initiated coverage on Airbnb in a research report on Thursday, April 11th. They issued a “buy” rating and a $190.00 target price on the stock. DA Davidson reaffirmed a “neutral” rating and set a $145.00 price target on shares of Airbnb in a research report on Friday, March 15th. Susquehanna boosted their price objective on shares of Airbnb from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Airbnb from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average target price of $149.19.

Airbnb Price Performance

Shares of NASDAQ:ABNB traded down $1.29 during trading on Tuesday, hitting $160.96. 553,419 shares of the company were exchanged, compared to its average volume of 4,447,743. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 1-year low of $103.55 and a 1-year high of $170.10. The company has a market capitalization of $104.15 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.25. The business’s 50 day moving average is $160.63 and its 200-day moving average is $143.86.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, February 13th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.67 by $0.09. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.16 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. Equities analysts forecast that Airbnb, Inc. will post 4.47 earnings per share for the current year.

About Airbnb

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.