Raiffeisen Bank International AG Grows Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Raiffeisen Bank International AG raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 34.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,038 shares of the company’s stock after acquiring an additional 1,301 shares during the period. Raiffeisen Bank International AG’s holdings in Airbnb were worth $608,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of Airbnb by 2,297.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after acquiring an additional 2,685,026 shares during the period. Two Sigma Advisers LP boosted its holdings in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock worth $404,782,000 after buying an additional 2,577,000 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock worth $388,924,000 after buying an additional 1,389,251 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Airbnb by 119.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company’s stock worth $179,991,000 after buying an additional 820,887 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Airbnb by 52.1% in the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock worth $310,896,000 after buying an additional 809,964 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 8,000 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total value of $1,026,640.00. Following the completion of the transaction, the chief executive officer owned 40,800 shares in the company, valued at $5,235,864. This represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the completion of the transaction, the director owned 1,180,015 shares of the company’s stock, valued at $164,494,091. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,435,023 shares of company stock worth $192,583,867. Insiders own 27.83% of the company’s stock.

Airbnb Trading Up 2.3%

Shares of ABNB stock opened at $130.96 on Tuesday. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The company has a market cap of $82.03 billion, a P/E ratio of 33.07, a PEG ratio of 2.38 and a beta of 1.13. The firm has a fifty day moving average price of $135.22 and a 200 day moving average price of $131.18.

Analysts Set New Price Targets

Several research firms recently issued reports on ABNB. Royal Bank Of Canada lowered their price objective on Airbnb from $160.00 to $140.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. BNP Paribas upgraded Airbnb to a “hold” rating in a report on Wednesday, July 16th. Phillip Securities cut Airbnb from a “hold” rating to a “moderate sell” rating in a report on Friday, May 9th. Susquehanna lowered their target price on Airbnb from $200.00 to $150.00 and set a “positive” rating on the stock in a report on Monday, May 5th. Finally, JMP Securities restated a “market perform” rating on shares of Airbnb in a report on Friday, May 2nd. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average price target of $142.10.

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.