Blume Capital Management Inc. Has $589,000 Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Blume Capital Management Inc. reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,482 shares of the company’s stock after selling 630 shares during the period. Blume Capital Management Inc.’s holdings in Airbnb were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABNB. Parnassus Investments LLC grew its stake in Airbnb by 8,324.9% in the fourth quarter. Parnassus Investments LLC now owns 655,539 shares of the company’s stock valued at $86,144,000 after acquiring an additional 647,758 shares during the period. Impact Capital Partners LLC acquired a new stake in Airbnb in the 4th quarter valued at $265,000. Skandinaviska Enskilda Banken AB publ grew its position in Airbnb by 1.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 92,232 shares of the company’s stock valued at $12,157,000 after purchasing an additional 1,324 shares during the period. Vestcor Inc increased its stake in Airbnb by 59.8% during the 4th quarter. Vestcor Inc now owns 13,684 shares of the company’s stock valued at $1,798,000 after purchasing an additional 5,120 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of Airbnb by 86.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 22,881 shares of the company’s stock valued at $3,007,000 after buying an additional 10,624 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABNB. Argus raised shares of Airbnb from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group boosted their price objective on Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Bank of America raised their target price on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. B. Riley upped their price target on Airbnb from $131.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Baird R W raised Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $148.00.

Airbnb Stock Performance

Shares of ABNB opened at $119.38 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market capitalization of $75.27 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The stock’s 50-day simple moving average is $136.49 and its 200 day simple moving average is $132.80.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.80, for a total value of $27,171,338.00. Following the completion of the transaction, the director now owns 214,290 shares of the company’s stock, valued at $27,171,972. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $130.18, for a total transaction of $91,126.00. Following the sale, the chief technology officer now owns 172,119 shares in the company, valued at approximately $22,406,451.42. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,269,494 shares of company stock worth $318,203,453 in the last three months. Corporate insiders own 27.83% of the company’s stock.

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.