Airbnb, Inc. (NASDAQ:ABNB) Shares Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 6.1%, owning 55,842 shares valued at approximately $6.67 million.
• Airbnb's stock price has seen fluctuations, with analysts setting varying target prices, including a recent price target decrease by Truist Financial from $112 to $106.
• Airbnb's insiders have sold a significant number of shares recently, with one director selling 236,000 shares for over $32 million, indicating potential concerns regarding future performance.

Mackenzie Financial Corp raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 55,842 shares of the company's stock after acquiring an additional 3,223 shares during the period. Mackenzie Financial Corp's holdings in Airbnb were worth $6,671,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABNB. Park Square Financial Group LLC bought a new stake in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC purchased a new stake in Airbnb during the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC grew its holdings in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after buying an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after buying an additional 174 shares in the last quarter. Finally, BankPlus Trust Department purchased a new position in shares of Airbnb in the first quarter valued at $43,000. Institutional investors own 80.76% of the company's stock.

Airbnb Trading Up 2.3%

Shares of ABNB stock traded up $2.94 during trading hours on Monday, reaching $130.96. 5,270,967 shares of the company's stock were exchanged, compared to its average volume of 3,508,969. The stock's fifty day moving average price is $135.13 and its two-hundred day moving average price is $131.21. The stock has a market cap of $82.03 billion, a PE ratio of 33.07, a PEG ratio of 2.38 and a beta of 1.13. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABNB shares. Canaccord Genuity Group cut their target price on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a report on Monday, April 28th. Wells Fargo & Company raised their target price on shares of Airbnb from $104.00 to $111.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Piper Sandler cut their target price on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Royal Bank Of Canada cut their target price on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Airbnb currently has a consensus rating of "Hold" and an average target price of $142.10.

Insider Buying and Selling

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the sale, the chief accounting officer owned 42,619 shares in the company, valued at approximately $6,051,898. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the sale, the chief technology officer owned 209,777 shares in the company, valued at approximately $29,240,816.03. This represents a 0.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,649,308 shares of company stock worth $218,906,636. 27.83% of the stock is currently owned by company insiders.

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.