Banque Pictet & Cie SA Has $14.06 Million Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Banque Pictet & Cie SA lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,660 shares of the company's stock after selling 19,489 shares during the quarter. Banque Pictet & Cie SA's holdings in Airbnb were worth $14,056,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ABNB. Norges Bank acquired a new stake in shares of Airbnb during the fourth quarter valued at approximately $433,374,000. Clearbridge Investments LLC lifted its stake in Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after acquiring an additional 2,590,475 shares in the last quarter. Two Sigma Advisers LP boosted 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 worth $404,782,000 after acquiring an additional 2,577,000 shares during the period. Principal Financial Group Inc. grew its stake in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after acquiring an additional 1,389,251 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Airbnb by 119.7% in 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. 80.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. BTIG Research reaffirmed a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Susquehanna cut their price objective on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research report on Monday, May 5th. DA Davidson raised shares of Airbnb from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $170.00 to $155.00 in a research report on Wednesday, April 30th. Cantor Fitzgerald restated an "underweight" rating and set a $100.00 price target on shares of Airbnb in a research note on Wednesday, May 14th. Finally, Evercore ISI reduced their price objective on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $141.47.

Airbnb Price Performance

Shares of NASDAQ ABNB traded down $1.65 during mid-day trading on Friday, hitting $135.35. The company's stock had a trading volume of 3,053,829 shares, compared to its average volume of 5,035,517. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company's fifty day simple moving average is $132.80 and its 200-day simple moving average is $130.63. The stock has a market cap of $84.78 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 2.56 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly 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 company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business's revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. On average, sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Buying and Selling

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the transaction, the chief financial officer directly owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $136.40, for a total value of $32,190,400.00. Following the completion of the transaction, the director owned 708,015 shares of the company's stock, valued at $96,573,246. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,629,143 shares of company stock valued at $210,676,703. 27.91% of the stock is owned by company insiders.

Airbnb 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.