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

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 8.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,547 shares of the company’s stock after purchasing an additional 12,214 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Airbnb were worth $19,791,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kentucky Trust Co purchased a new position in Airbnb during the 2nd quarter valued at about $25,000. Stonebridge Financial Group LLC increased its holdings in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after purchasing an additional 106 shares during the period. Armstrong Advisory Group Inc. increased its holdings in Airbnb by 363.6% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the period. Bartlett & CO. Wealth Management LLC increased its holdings in Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Finally, SouthState Corp increased its holdings in Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company’s stock valued at $35,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of research analyst reports. Mizuho began coverage on Airbnb in a report on Monday. They set an “outperform” rating and a $151.00 price target on the stock. Citizens Jmp upgraded Airbnb to a “hold” rating in a report on Monday, August 11th. BNP Paribas upgraded Airbnb to a “hold” rating in a report on Wednesday, July 16th. Phillip Securities upgraded Airbnb from a “moderate sell” rating to a “hold” rating in a report on Friday, August 8th. Finally, Morgan Stanley reduced their target price on Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus target price of $141.81.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $122.91, for a total value of $73,746.00. Following the sale, the chief technology officer owned 199,006 shares in the company, valued at $24,459,827.46. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 2,246 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the transaction, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,673,726 shares of company stock worth $215,816,143. 27.91% of the stock is currently owned by corporate insiders.

Airbnb Stock Down 1.0%

Airbnb stock opened at $120.22 on Friday. The company has a market capitalization of $74.71 billion, a P/E ratio of 29.11, a PEG ratio of 2.22 and a beta of 1.10. The stock’s 50 day moving average is $125.86 and its 200 day moving average is $127.57. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93.

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

About Airbnb

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.