DoubleLine ETF Adviser LP Makes New $1.77 Million Investment in Airbnb, Inc. (NASDAQ:ABNB)

DoubleLine ETF Adviser LP acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 11,680 shares of the company’s stock, valued at approximately $1,771,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Congress Wealth Management LLC DE bought a new position in Airbnb during the 4th quarter worth approximately $436,000. United Services Automobile Association grew its holdings in shares of Airbnb by 11.7% in the fourth quarter. United Services Automobile Association now owns 12,796 shares of the company’s stock worth $1,742,000 after purchasing an additional 1,343 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new position in shares of Airbnb in the fourth quarter worth $218,000. Olympiad Research LP bought a new stake in Airbnb during the 4th quarter valued at $334,000. Finally, Catalytic Wealth RIA LLC purchased a new position in shares of Airbnb in the fourth quarter valued at about $208,000. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $151.29, for a total value of $90,774.00. Following the transaction, the chief technology officer now owns 208,774 shares of the company’s stock, valued at $31,585,418.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the sale, the chief financial officer now owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $151.29, for a total value of $90,774.00. Following the transaction, the chief technology officer now owns 208,774 shares of the company’s stock, valued at $31,585,418.46. The disclosure for this sale can be found here. Insiders sold a total of 552,389 shares of company stock valued at $75,745,682 in the last three months. 27.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of research analyst reports. BMO Capital Markets reduced their price objective on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley boosted their price target on shares of Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. TD Cowen lowered their price objective on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Robert W. Baird reduced their target price on Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group lowered their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and a consensus target price of $134.17.

Airbnb Stock Down 0.6 %

Shares of ABNB stock opened at $130.71 on Thursday. The company has a market capitalization of $83.87 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The company’s fifty day moving average price is $124.50 and its 200-day moving average price is $143.92. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

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.