Korea Investment CORP Sells 37,038 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Korea Investment CORP lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 14.3% in the 4th quarter, according to its most recent 13F filing with the SEC. 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 quarter.

A number of other institutional investors have also bought and sold shares of the business. Golden State Wealth Management LLC bought a new position in shares of Airbnb in the fourth quarter worth about $25,000. Berbice Capital Management LLC bought a new position in Airbnb in the 4th quarter worth approximately $26,000. Graney & King LLC purchased a new stake in Airbnb during the 4th quarter valued at approximately $32,000. Whipplewood Advisors LLC bought a new stake in shares of Airbnb during the fourth quarter valued at approximately $44,000. Finally, Cromwell Holdings LLC lifted its holdings in shares of Airbnb by 82.5% in the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ABNB. Robert W. Baird cut 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. Jefferies Financial Group upgraded Airbnb from a “hold” rating to a “buy” rating and raised their price target for the company from $165.00 to $185.00 in a report on Monday, March 10th. HSBC upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Susquehanna increased their price target on shares of Airbnb from $160.00 to $200.00 and gave the company a “positive” rating in a report on Tuesday, February 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $147.36.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $135.35, for a total value of $94,745.00. Following the completion of the sale, the chief technology officer now owns 184,714 shares of the company’s stock, valued at $25,001,039.90. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 183,078 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $158.00, for a total value of $28,926,324.00. Following the transaction, the insider now directly owns 164,850 shares in the company, valued at $26,046,300. This represents a 52.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,270,894 shares of company stock valued at $317,578,168 over the last quarter. 27.83% of the stock is owned by corporate insiders.

Airbnb Price Performance

Shares of ABNB opened at $120.69 on Friday. 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 50 day moving average price of $135.29 and a 200-day moving average price of $133.58. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $166.74. The stock has a market capitalization of $76.10 billion, a PE ratio of 29.22, a PEG ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal 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.