Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 333,627 shares of the company’s stock, valued at approximately $53,597,000. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Airbnb at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of ABNB. Wellington Management Group LLP lifted its stake in shares of Airbnb by 80.6% in the 2nd quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock valued at $827,929,000 after purchasing an additional 2,581,539 shares during the period. Amundi grew its stake in Airbnb by 8.6% in the first quarter. Amundi now owns 4,686,765 shares of the company’s stock worth $591,845,000 after purchasing an additional 370,426 shares during the period. Assenagon Asset Management S.A. grew its stake in Airbnb by 114.6% in the third quarter. Assenagon Asset Management S.A. now owns 3,401,521 shares of the company’s stock worth $546,454,000 after purchasing an additional 1,816,522 shares during the period. Jennison Associates LLC grew its stake in Airbnb by 9,331.0% in the first quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock worth $400,681,000 after purchasing an additional 3,139,315 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Airbnb by 2.5% in the first quarter. Pacer Advisors Inc. now owns 2,325,214 shares of the company’s stock worth $293,628,000 after purchasing an additional 56,250 shares in the last quarter. 80.76% of the stock is owned by institutional investors.
Key Airbnb News
Here are the key news stories impacting Airbnb this week:
- Positive Sentiment: Airbnb’s planned commitment of $500 million over five years to provide as many as 1 million free nights annually for people in crisis could strengthen the company’s brand and social-impact profile over the long term. Airbnb’s next big bet: 1 million free nights a year for people in crisis
- Positive Sentiment: Analyst sentiment remains broadly favorable, with a “Moderate Buy” consensus and an average price target of $182.43. Airbnb’s asset-light model, global reach and previous quarterly revenue growth also support the long-term investment case.
- Neutral Sentiment: Airbnb is scheduled to report quarterly results next week. Analysts expect earnings growth, but previews suggest the company may lack the two key factors typically associated with a likely earnings beat, raising uncertainty around the report. Airbnb earnings expected to grow
- Negative Sentiment: A new house-rules policy taking effect November 20 will prevent hosts from requiring guests to perform time-consuming cleaning tasks. Some hosts are threatening to boycott the platform, leave Airbnb or raise cleaning fees, creating potential risks for listings, pricing and bookings. Airbnb hosts threaten boycott and higher cleaning fees over new guest chore policy
- Negative Sentiment: New U.K. tax measures targeting landlords and short-term-rental owners are expected to impose an estimated £800 million burden on Airbnb owners, potentially reducing host supply or increasing prices in an important market. Airbnb owners hit by £800m tax raid
- Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.33 million, reducing his direct ownership by 39.83%. The sale may weigh on sentiment, although insider transactions do not necessarily indicate weakening fundamentals. SEC insider transaction filing
Insider Activity at Airbnb
In other news, CAO David Bernstein sold 1,369 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $168.01, for a total value of $230,005.69. Following the completion of the sale, the chief accounting officer owned 45,655 shares in the company, valued at approximately $7,670,496.55. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 13,615 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $170.81, for a total value of $2,325,578.15. Following the completion of the transaction, the insider directly owned 20,567 shares in the company, valued at $3,513,049.27. This trade represents a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,281,967 shares of company stock worth $230,470,521 over the last three months. 27.21% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Morgan Stanley started coverage on shares of Airbnb in a research note on Wednesday, September 16th. They set an “equal weight” rating and a $170.00 target price for the company. FBN Securities started coverage on Airbnb in a research report on Friday, October 2nd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. boosted their price target on Airbnb from $140.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Barclays raised their price objective on Airbnb from $125.00 to $150.00 in a research report on Friday, August 7th. Finally, UBS Group lifted their price objective on Airbnb from $163.00 to $172.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.43.
Check Out Our Latest Stock Report on ABNB
Airbnb Price Performance
Shares of NASDAQ:ABNB opened at $164.39 on Monday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $98.44 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26. The firm’s 50 day moving average price is $170.39 and its 200-day moving average price is $146.67. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $193.45.
Airbnb (NASDAQ:ABNB – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. Airbnb had a return on equity of 33.38% and a net margin of 20.45%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. Equities research analysts expect that Airbnb, Inc. will post 5.29 EPS for the current year.
Airbnb Company Profile
Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.
In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.
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