Elevate Capital Advisors LLC Acquires New Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Elevate Capital Advisors LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,979 shares of the company’s stock, valued at approximately $2,100,000. Airbnb comprises about 1.8% of Elevate Capital Advisors LLC’s holdings, making the stock its 16th biggest position.

Other institutional investors also recently modified their holdings of the company. Salvus Wealth Management LLC boosted its holdings in shares of Airbnb by 2.5% during the 4th quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after acquiring an additional 84 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Airbnb by 3.8% during the third quarter. Koshinski Asset Management Inc. now owns 2,305 shares of the company’s stock valued at $292,000 after purchasing an additional 85 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Airbnb by 19.3% during the third quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock worth $74,000 after purchasing an additional 94 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Airbnb by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 3,691 shares of the company’s stock valued at $468,000 after buying an additional 97 shares during the period. Finally, Y.D. More Investments Ltd raised its holdings in Airbnb by 3.0% in the 4th quarter. Y.D. More Investments Ltd now owns 3,461 shares of the company’s stock valued at $455,000 after buying an additional 100 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABNB shares. Citigroup boosted their target price on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Robert W. Baird boosted their price objective on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company lowered their target price on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Barclays upped their price target on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Finally, Susquehanna raised their price objective on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and an average target price of $139.63.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the sale, the director now owns 10,321 shares in the company, valued at approximately $1,352,876.68. This trade represents a 95.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Chesky sold 76,923 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the transaction, the chief executive officer now owns 12,616,300 shares in the company, valued at $1,765,525,022. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,417,704 shares of company stock worth $187,654,829 over the last 90 days. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Up 1.8 %

Shares of NASDAQ ABNB opened at $134.98 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The company has a 50-day moving average price of $132.98 and a 200-day moving average price of $129.94. The stock has a market capitalization of $85.57 billion, a P/E ratio of 47.36, a P/E/G ratio of 1.88 and a beta of 1.12. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period in the prior year, the firm posted $2.39 earnings per share. On average, equities research analysts forecast that Airbnb, Inc. will post 3.97 EPS for the current fiscal year.

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.