Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Airbnb, Inc. $ABNB

Mirae Asset Global Investments Co. Ltd. raised its position in Airbnb, Inc. (NASDAQ:ABNB) by 23.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,238 shares of the company’s stock after purchasing an additional 35,691 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Airbnb were worth $22,492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABNB. E Fund Management Hong Kong Co. Ltd. grew its position in Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners bought a new stake in shares of Airbnb during the 2nd quarter valued at about $28,000. Whipplewood Advisors LLC boosted its position in shares of Airbnb by 235.3% during the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after acquiring an additional 160 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Airbnb during the third quarter worth about $32,000. Finally, NewSquare Capital LLC increased its position in shares of Airbnb by 86.4% in the second quarter. NewSquare Capital LLC now owns 287 shares of the company’s stock worth $38,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $133.28, for a total transaction of $7,730,240.00. Following the completion of the sale, the director owned 460,015 shares of the company’s stock, valued at $61,310,799.20. This represents a 11.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Chesky sold 51,230 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the completion of the sale, the chief executive officer directly owned 45,854 shares in the company, valued at approximately $6,014,210.64. This trade represents a 52.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,202,272 shares of company stock worth $148,094,596. 27.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of recent analyst reports. Wedbush lifted their target price on shares of Airbnb from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, December 19th. Sanford C. Bernstein lowered their price objective on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 6th. Jefferies Financial Group upped their target price on shares of Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Barclays set a $120.00 target price on Airbnb and gave the company an “equal weight” rating in a research note on Friday, January 9th. Finally, Mizuho set a $156.00 price target on Airbnb in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $147.84.

Airbnb Trading Up 0.2%

Shares of NASDAQ:ABNB opened at $131.77 on Friday. The stock’s 50-day moving average price is $130.26 and its 200-day moving average price is $127.53. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The stock has a market capitalization of $81.11 billion, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 2.04 and a beta of 1.09.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the firm posted $2.13 EPS. The company’s revenue was up 9.9% on a year-over-year basis. As a group, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.