Korea Investment CORP Has $23.97 Million Position in Airbnb, Inc. $ABNB

Key Points

• Korea Investment CORP has reduced its stake in Airbnb, Inc. by 9.8%, holding 200,639 shares valued at approximately $23.97 million after selling 21,907 shares during the first quarter.
• Airbnb's quarterly earnings showed a profit of $1.03 per share, exceeding analysts' expectations, with total revenue reaching $3.10 billion and a net margin of 22.67%.
• Insider trading activity included Director Joseph Gebbia selling 236,000 shares for approximately $30.55 million, which decreased his ownership by 20%.

Korea Investment CORP reduced its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,639 shares of the company's stock after selling 21,907 shares during the period. Korea Investment CORP's holdings in Airbnb were worth $23,968,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABNB. Dimensional Fund Advisors LP boosted its position in shares of Airbnb by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 812,476 shares of the company's stock worth $106,769,000 after purchasing an additional 17,620 shares in the last quarter. MML Investors Services LLC boosted its position in shares of Airbnb by 14.1% during the 4th quarter. MML Investors Services LLC now owns 75,412 shares of the company's stock worth $9,910,000 after purchasing an additional 9,312 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in shares of Airbnb by 7.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after purchasing an additional 90 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Airbnb by 26.1% during the 4th quarter. Stifel Financial Corp now owns 635,920 shares of the company's stock worth $83,566,000 after purchasing an additional 131,821 shares in the last quarter. Finally, Dark Forest Capital Management LP boosted its position in shares of Airbnb by 61.6% during the 4th quarter. Dark Forest Capital Management LP now owns 7,585 shares of the company's stock worth $997,000 after purchasing an additional 2,890 shares in the last quarter. Institutional investors own 80.76% of the company's stock.

Airbnb Stock Performance

Shares of ABNB stock opened at $124.96 on Thursday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a 50-day simple moving average of $132.98 and a two-hundred day simple moving average of $130.58. The company has a market capitalization of $77.66 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 2.30 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of research analyst reports. JMP Securities reissued a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Zacks Research upgraded shares of Airbnb to a "hold" rating in a report on Tuesday, August 12th. Morgan Stanley lowered their target price on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group lowered their target price on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Benchmark lowered their target price on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given 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, the company currently has a consensus rating of "Hold" and an average price target of $142.72.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $129.46, for a total value of $30,552,560.00. Following the transaction, the director directly owned 944,015 shares in the company, valued at $122,212,181.90. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 8,000 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $128.33, for a total value of $1,026,640.00. Following the transaction, the chief executive officer owned 40,800 shares of the company's stock, valued at $5,235,864. The trade was a 16.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,690,493 shares of company stock worth $224,082,441 over the last three months. 27.91% of the stock is currently owned by insiders.

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.

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