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

Key Points

• Mirae Asset Global Investments increased its stake in Airbnb by 23.5% in Q4, buying 43,611 shares to hold 228,849 shares worth about $31.06 million.
• Significant insider selling occurred last quarter — CFO Elinor Mertz and director Joseph Gebbia sold shares, and insiders disposed of 363,510 shares totaling $46.45 million; insiders now own 27.91% of the stock.
• Airbnb missed Q4 EPS ($0.56 vs. $0.66 estimate) but revenue rose 12.9% to $2.78 billion; the stock trades near its 52-week high and carries a consensus analyst rating of "Hold" with an average target of $149.40.

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,849 shares of the company's stock after buying an additional 43,611 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Airbnb were worth $31,059,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ABNB. Aster Capital Management DIFC Ltd acquired a new stake in Airbnb during the third quarter worth approximately $25,000. ORG Partners LLC raised its holdings in Airbnb by 97.0% in the 4th quarter. ORG Partners LLC now owns 195 shares of the company's stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Airbnb by 397.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company's stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Wiser Advisor Group LLC purchased a new position in shares of Airbnb during the 3rd quarter worth $27,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of Airbnb during the fourth quarter worth $29,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Insiders Place Their Bets

In other news, CFO Elinor Mertz sold 3,750 shares of the company's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $130.99, for a total value of $491,212.50. Following the completion of the sale, the chief financial officer owned 394,359 shares of the company's stock, valued at $51,657,085.41. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $133.28, for a total value of $7,730,240.00. Following the completion of the sale, the director owned 460,015 shares of the company's stock, valued at approximately $61,310,799.20. This trade represents a 11.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 363,510 shares of company stock worth $46,447,668 over the last quarter. 27.91% of the stock is owned by corporate insiders.

Airbnb Trading Up 2.7%

Shares of ABNB stock opened at $141.55 on Friday. The company's fifty day simple moving average is $128.91 and its 200-day simple moving average is $127.52. Airbnb, Inc. has a 52 week low of $109.79 and a 52 week high of $143.88. The company has a market cap of $86.16 billion, a PE ratio of 35.04, a P/E/G ratio of 1.67 and a beta of 1.15.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The business had revenue of $2.78 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same period last year, the company posted $0.73 earnings per share. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Ratings Changes

ABNB has been the subject of a number of recent analyst reports. Wedbush reaffirmed a "neutral" rating and issued a $130.00 price objective on shares of Airbnb in a research report on Friday, February 13th. Wells Fargo & Company increased their target price on Airbnb from $133.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 1st. Citigroup upgraded Airbnb from a "neutral" rating to an "outperform" rating in a report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft raised shares of Airbnb from a "hold" rating to a "buy" rating and set a $154.00 price objective for the company in a research note on Friday, February 13th. Finally, Citizens Jmp raised shares of Airbnb from a "market perform" rating to an "outperform" rating and set a $160.00 target price on the stock in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $149.40.

Airbnb Profile

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

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