Korea Investment CORP Cuts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Korea Investment CORP trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 14.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,546 shares of the company’s stock after selling 37,038 shares during the period. Korea Investment CORP’s holdings in Airbnb were worth $29,245,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ABNB. Geode Capital Management LLC grew its position in Airbnb by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after acquiring an additional 146,761 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Airbnb by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,790,644 shares of the company’s stock worth $366,719,000 after purchasing an additional 84,348 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Airbnb by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company’s stock worth $299,272,000 after purchasing an additional 80,610 shares during the last quarter. Temasek Holdings Private Ltd increased its stake in shares of Airbnb by 91.3% in the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock worth $294,726,000 after buying an additional 1,109,076 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Airbnb by 174.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after buying an additional 1,185,892 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of Airbnb to $155.00 and gave the stock a “hold” rating in a report on Wednesday, January 15th. UBS Group boosted their price target on Airbnb from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Baird R W upgraded Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. The Goldman Sachs Group raised Airbnb from a “sell” rating to a “neutral” rating and boosted their target price for the company from $110.00 to $153.00 in a research note on Friday, February 14th. Finally, Robert W. Baird dropped their price target on Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $147.36.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 230,772 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the completion of the sale, the chief executive officer now owns 12,000,913 shares of the company’s stock, valued at approximately $1,934,067,139.08. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $129.55, for a total value of $90,685.00. Following the completion of the transaction, the chief technology officer now directly owns 170,719 shares in the company, valued at $22,116,646.45. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,270,894 shares of company stock valued at $317,578,168. Company insiders own 27.83% of the company’s stock.

Airbnb Price Performance

NASDAQ ABNB opened at $120.69 on Friday. Airbnb, Inc. has a one year low of $110.38 and a one year high of $166.74. The stock has a 50-day moving average of $135.29 and a 200 day moving average of $133.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The company has a market capitalization of $76.10 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

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.