Banque Pictet & Cie SA Sells 17,335 Shares of Airbnb, Inc. $ABNB

Key Points

• Banque Pictet & Cie SA has reduced its stake in Airbnb, Inc. by 14.7%, selling 17,335 shares, and now holds 100,325 shares valued at approximately $13.28 million.
• Several other institutional investors have significantly increased their holdings in Airbnb during the first quarter, with Harris Associates L P boosting its stake by 86%.
• Recent analyst ratings show a consensus for Airbnb shares at a "Hold" with an average target price of $141.19.

Banque Pictet & Cie SA cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 14.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,325 shares of the company's stock after selling 17,335 shares during the quarter. Banque Pictet & Cie SA's holdings in Airbnb were worth $13,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harris Associates L P lifted its holdings in shares of Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after acquiring an additional 4,598,125 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after purchasing an additional 2,685,026 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock worth $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of 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 purchasing an additional 1,389,251 shares during the last quarter. Finally, Consulta Ltd purchased a new position in shares of Airbnb during the 1st quarter valued at about $149,325,000. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $123.74, for a total transaction of $74,244.00. Following the transaction, the chief technology officer owned 199,606 shares in the company, valued at $24,699,246.44. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the transaction, the chief financial officer directly owned 444,070 shares of the company's stock, valued at approximately $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,437,726 shares of company stock valued at $186,661,639 over the last quarter. 27.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ABNB shares. Wedbush reduced their price target on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. BNP Paribas raised shares of Airbnb to a "hold" rating in a report on Wednesday, July 16th. Jefferies Financial Group lowered their price target on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Zacks Research raised Airbnb to a "hold" rating in a research note on Tuesday, August 12th. Finally, Barclays set a $105.00 target price 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 given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, Airbnb has a consensus rating of "Hold" and an average target price of $141.19.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $121.75 on Friday. The stock's 50-day moving average is $128.01 and its 200 day moving average is $127.66. The company has a market cap of $75.66 billion, a PE ratio of 29.48, a P/E/G ratio of 2.25 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 released its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 business posted $0.86 EPS. The business's revenue was up 12.7% on a year-over-year basis. Analysts expect that Airbnb, Inc. will post 4.31 EPS 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.

Want to see what other hedge funds are holding ABNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Airbnb, Inc. (NASDAQ:ABNB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.