Pictet Asset Management Holding SA Reduces Stake in Airbnb, Inc. (NASDAQ:ABNB)

Pictet Asset Management Holding SA lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 240,877 shares of the company’s stock after selling 1,141 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Airbnb were worth $31,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABNB. Golden State Wealth Management LLC bought a new position in shares of Airbnb in the fourth quarter valued at approximately $25,000. Berbice Capital Management LLC bought a new position in Airbnb in the 4th quarter valued at $26,000. Graney & King LLC purchased a new position in shares of Airbnb during the 4th quarter valued at $32,000. Whipplewood Advisors LLC bought a new position in shares of Airbnb in the fourth quarter worth $44,000. Finally, Cromwell Holdings LLC raised its position in shares of Airbnb by 82.5% in the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after buying an additional 170 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Gordon Haskett upgraded Airbnb from a “sell” rating to a “hold” rating and set a $143.00 target price for the company in a research report on Friday, February 14th. Evercore ISI boosted their price objective on Airbnb to $155.00 and gave the stock a “hold” rating in a report on Wednesday, January 15th. Bank of America raised their target price on shares of Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. B. Riley boosted their price target on shares of Airbnb from $131.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of Airbnb in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Airbnb has an average rating of “Hold” and an average target price of $147.36.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the sale, the insider now owns 164,850 shares of the company’s stock, valued at $26,046,300. The trade was a 52.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $135.35, for a total transaction of $94,745.00. Following the transaction, the chief technology officer now directly owns 184,714 shares of the company’s stock, valued at $25,001,039.90. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,270,894 shares of company stock worth $317,578,168 over the last ninety days. 27.83% of the stock is owned by corporate insiders.

Airbnb Trading Down 3.9 %

NASDAQ:ABNB opened at $120.69 on Monday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $166.74. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $135.29 and a 200-day moving average price of $133.83. The stock has a market cap of $76.10 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current 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.