Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,063 shares of the company’s stock after selling 8,401 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Airbnb were worth $43,768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ABNB. Norges Bank acquired a new stake in shares of Airbnb during the fourth quarter worth approximately $433,374,000. Clearbridge Investments LLC increased its stake in Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the last quarter. Principal Financial Group Inc. increased its stake in Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after purchasing an additional 1,185,892 shares during the last quarter. AQR Capital Management LLC increased its stake in Airbnb by 52.1% during the fourth quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock valued at $310,896,000 after purchasing an additional 809,964 shares during the last quarter. Finally, Parnassus Investments LLC increased its stake in Airbnb by 8,324.9% during the fourth quarter. Parnassus Investments LLC now owns 655,539 shares of the company’s stock valued at $86,144,000 after purchasing an additional 647,758 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $108.76, for a total value of $23,305,636.60. Following the completion of the transaction, the director now directly owns 2,294,870 shares in the company, valued at $249,590,061.20. This trade represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 11,488 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $158.00, for a total transaction of $1,815,104.00. Following the completion of the transaction, the chief technology officer now owns 181,214 shares of the company’s stock, valued at approximately $28,631,812. The trade was a 5.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,983,669 shares of company stock worth $266,947,699. 27.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on ABNB. Robert W. Baird lowered their target price on shares of Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. Morgan Stanley boosted their target price on shares of Airbnb from $125.00 to $130.00 and gave the company an “underweight” rating in a research note on Thursday, April 17th. Cantor Fitzgerald lowered their target price on shares of Airbnb from $101.00 to $100.00 and set an “underweight” rating for the company in a research note on Friday, May 2nd. Tigress Financial boosted their target price on shares of Airbnb from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company boosted their target price on shares of Airbnb from $100.00 to $104.00 and gave the company an “underweight” rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus price target of $141.43.

Airbnb Price Performance

Shares of Airbnb stock opened at $138.05 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $121.42 and its two-hundred day moving average price is $131.21. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The stock has a market cap of $87.05 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm posted $0.41 earnings per share. Airbnb’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal 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.