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

Mirae Asset Global Investments Co. Ltd. increased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,547 shares of the company’s stock after purchasing an additional 12,214 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Airbnb were worth $19,791,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its position in shares of Airbnb by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock valued at $604,000 after purchasing an additional 78 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Airbnb by 12.2% in the first quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock valued at $88,000 after purchasing an additional 80 shares in the last quarter. Koshinski Asset Management Inc. grew its position in shares of Airbnb by 4.4% in the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $237,000 after purchasing an additional 83 shares in the last quarter. Rakuten Securities Inc. grew its position in Airbnb by 31.6% during the first quarter. Rakuten Securities Inc. now owns 379 shares of the company’s stock worth $45,000 after buying an additional 91 shares in the last quarter. Finally, Trivium Point Advisory LLC grew its position in Airbnb by 3.0% during the first quarter. Trivium Point Advisory LLC now owns 3,408 shares of the company’s stock worth $407,000 after buying an additional 99 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $123.57, for a total value of $29,162,520.00. Following the completion of the sale, the director owned 940,015 shares of the company’s stock, valued at approximately $116,157,653.55. The trade was a 20.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $122.91, for a total value of $73,746.00. Following the completion of the sale, the chief technology officer directly owned 199,006 shares of the company’s stock, valued at approximately $24,459,827.46. This trade represents a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,673,726 shares of company stock worth $215,816,143. Insiders own 27.91% of the company’s stock.

Airbnb Stock Down 1.0%

Shares of ABNB stock opened at $120.22 on Friday. The business has a 50-day moving average price of $125.86 and a two-hundred day moving average price of $127.57. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The firm has a market cap of $74.71 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. As a group, research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Phillip Securities upgraded Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. boosted their target price on Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a research report on Saturday, September 27th. Wedbush reduced their target price on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Truist Financial reduced their target price on Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $141.81.

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.