Mirae Asset Global Investments Co. Ltd. Increases Stake in Airbnb, Inc. (NASDAQ:ABNB)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 137,333 shares of the company's stock after purchasing an additional 8,607 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Airbnb were worth $16,575,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewEdge Wealth LLC grew its holdings in shares of Airbnb by 12.8% during the 4th quarter. NewEdge Wealth LLC now owns 14,674 shares of the company's stock worth $1,928,000 after purchasing an additional 1,668 shares during the period. Proficio Capital Partners LLC lifted its position in Airbnb by 1,171.2% during the fourth quarter. Proficio Capital Partners LLC now owns 149,502 shares of the company's stock valued at $19,646,000 after buying an additional 137,741 shares in the last quarter. SVB Wealth LLC purchased a new stake in Airbnb during the fourth quarter worth approximately $4,892,000. Metis Global Partners LLC increased its position in shares of Airbnb by 11.1% in the fourth quarter. Metis Global Partners LLC now owns 21,767 shares of the company's stock worth $2,860,000 after acquiring an additional 2,183 shares in the last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in shares of Airbnb in the fourth quarter worth $57,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Activity

In other news, insider Nathan Blecharczyk sold 2,245 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $134.03, for a total transaction of $300,897.35. Following the sale, the insider now directly owns 188,173 shares of the company's stock, valued at $25,220,827.19. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $137.13, for a total value of $82,278.00. Following the completion of the transaction, the chief technology officer now directly owns 213,377 shares in the company, valued at $29,260,388.01. This represents a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,646,087 shares of company stock worth $206,326,144. Corporate insiders own 27.83% of the company's stock.

Airbnb Stock Performance

Shares of ABNB opened at $134.52 on Monday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The stock's fifty day moving average is $130.00 and its 200-day moving average is $130.34. The firm has a market capitalization of $84.26 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company earned $0.41 earnings per share. The business's revenue for the quarter was up 7.4% on a year-over-year basis. Analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABNB. JPMorgan Chase & Co. reduced their target price on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Royal Bank Of Canada decreased their target price on Airbnb from $160.00 to $140.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Susquehanna lowered their target price on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company boosted their price target on Airbnb from $100.00 to $104.00 and gave the stock an "underweight" rating in a research report on Friday, May 2nd. Finally, JMP Securities restated a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and a consensus target price of $141.23.

Airbnb Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.