Counterpoint Mutual Funds LLC Makes New $297,000 Investment in Airbnb, Inc. $ABNB

Key Points

• Counterpoint Mutual Funds LLC has made a new investment in Airbnb, acquiring 2,246 shares valued at approximately $297,000 during the 2nd quarter.
• Insider Nathan Blecharczyk sold 2,246 shares of Airbnb for a total of $281,199.20, while other insiders have sold a combined total of 1,437,726 shares valued at around $186.66 million over the last quarter.
• Airbnb's current stock rating is a consensus of "Hold", with price targets varying, including a recent increase from Royal Bank of Canada from $140.00 to $145.00.

Counterpoint Mutual Funds LLC acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,246 shares of the company's stock, valued at approximately $297,000.

Several other large investors have also recently bought and sold shares of ABNB. State of Wyoming lifted its holdings in Airbnb by 123.2% during the 4th quarter. State of Wyoming now owns 500 shares of the company's stock worth $66,000 after buying an additional 276 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Airbnb by 33.2% during the 4th quarter. Mackenzie Financial Corp now owns 52,619 shares of the company's stock worth $6,915,000 after buying an additional 13,113 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Airbnb during the 4th quarter worth $44,397,000. Park Square Financial Group LLC acquired a new position in Airbnb during the 4th quarter worth $26,000. Finally, NorthCrest Asset Manangement LLC acquired a new position in Airbnb during the 4th quarter worth $304,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Activity at Airbnb

In other news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the completion of the sale, the insider owned 182,514 shares in the company, valued at $22,850,752.80. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $123.74, for a total value of $74,244.00. Following the sale, the chief technology officer owned 199,606 shares of the company's stock, valued at approximately $24,699,246.44. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,437,726 shares of company stock valued at $186,661,639. Insiders own 27.91% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABNB. Royal Bank Of Canada increased their price target on Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Jefferies Financial Group cut their price target on Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Truist Financial cut their price target on Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research note on Wednesday, September 3rd. Citizens Jmp raised Airbnb to a "hold" rating in a research note on Monday, August 11th. Finally, Barclays set a $105.00 price target on Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $141.19.

Airbnb Stock Performance

NASDAQ:ABNB opened at $123.08 on Thursday. The stock's 50-day simple moving average is $128.36 and its 200 day simple moving average is $127.73. The company has a market cap of $76.49 billion, a P/E ratio of 29.80, a P/E/G ratio of 2.25 and a beta of 1.13. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. During the same quarter last year, the company posted $0.86 earnings per share. Airbnb's quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share 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.

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