5,811 Shares in Airbnb, Inc. (NASDAQ:ABNB) Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG purchased a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,811 shares of the company's stock, valued at approximately $694,000.

Several other institutional investors also recently added to or reduced their stakes in ABNB. Norges Bank purchased a new position in Airbnb during the 4th quarter valued at about $433,374,000. Clearbridge Investments LLC increased its position in Airbnb by 147.3% during the 4th 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 period. Two Sigma Advisers LP increased its position in Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the period. Principal Financial Group Inc. increased its position 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 purchasing an additional 1,185,892 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Airbnb by 119.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock valued at $179,991,000 after purchasing an additional 820,887 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on ABNB. Jefferies Financial Group raised shares of Airbnb from a "hold" rating to a "buy" rating and raised their target price for the company from $165.00 to $185.00 in a research report on Monday, March 10th. Piper Sandler cut their price objective on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. BTIG Research reaffirmed a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Royal Bank Of Canada cut their price objective on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Finally, Evercore ISI cut their price objective on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $141.23.

Airbnb Trading Down 0.9%

NASDAQ ABNB traded down $1.20 on Thursday, hitting $132.17. 3,604,951 shares of the company's stock traded hands, compared to its average volume of 5,019,779. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm's 50-day moving average price is $127.76 and its two-hundred day moving average price is $130.68. The firm has a market capitalization of $82.79 billion, a PE ratio of 33.38, a P/E/G ratio of 2.48 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data 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 net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business's revenue was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $139.40, for a total value of $32,898,400.00. Following the completion of the transaction, the director now directly owns 1,180,015 shares in the company, valued at $164,494,091. The trade was a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $119.67, for a total transaction of $83,769.00. Following the completion of the transaction, the chief technology officer now owns 170,019 shares of the company's stock, valued at approximately $20,346,173.73. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,624,472 shares of company stock worth $203,509,100 in the last three months. Company insiders own 27.91% of the company's stock.

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.