Mirae Asset Global Investments Co. Ltd. Acquires 333,627 Shares of Airbnb, Inc. $ABNB

Mirae Asset Global Investments Co. Ltd. purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 333,627 shares of the company’s stock, valued at approximately $53,597,000.

A number of other institutional investors also recently bought and sold shares of the business. Meeder Asset Management Inc. boosted its holdings in Airbnb by 96.3% in the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Main Street Group LTD acquired a new stake in Airbnb during the 1st quarter worth about $29,000. Western Wealth Management LLC purchased a new position in shares of Airbnb during the 1st quarter valued at about $34,000. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Airbnb in the third quarter worth about $35,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of Airbnb in the first quarter worth about $38,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO David Bernstein sold 1,369 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $168.01, for a total value of $230,005.69. Following the sale, the chief accounting officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $170.81, for a total value of $2,325,578.15. Following the sale, the insider directly owned 20,567 shares of the company’s stock, valued at $3,513,049.27. This trade represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,281,967 shares of company stock worth $230,470,521. 27.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of recent analyst reports. Royal Bank Of Canada assumed coverage on shares of Airbnb in a report on Friday, October 2nd. They set an “outperform” rating on the stock. Cantor Fitzgerald assumed coverage on Airbnb in a report on Friday, October 2nd. They issued an “overweight” rating for the company. Citizens Jmp increased their price target on Airbnb from $190.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, September 18th. Gordon Haskett raised their price objective on Airbnb from $146.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, September 10th. Finally, KeyCorp began coverage on Airbnb in a report on Friday, October 2nd. They issued a “sector weight” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given 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 an average price target of $182.43.

Airbnb Stock Performance

Shares of ABNB stock opened at $164.39 on Monday. The stock’s fifty day moving average is $170.39 and its two-hundred day moving average is $146.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $98.44 billion, a P/E ratio of 37.36, a PEG ratio of 1.88 and a beta of 1.26. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $193.45.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the business earned $1.03 earnings per share. Airbnb’s revenue was up 16.3% compared to the same quarter last year. Research analysts expect that Airbnb, Inc. will post 5.29 earnings per share for the current fiscal year.

More 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

Airbnb 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.