DoubleLine ETF Adviser LP Makes New Investment in Airbnb, Inc. $ABNB

Key Points

• DoubleLine ETF Adviser LP acquired a new position in Airbnb, Inc. ($ABNB) with a total investment of $1.22 million in 10,173 shares during the 1st quarter.
• Insider trading activity shows CAO David C. Bernstein sold 5,000 shares, decreasing his ownership by 10.50%, while Nathan Blecharczyk sold 2,246 shares, reducing his ownership by 1.22%.
• Airbnb is currently rated as a "Hold" by analysts, with a consensus price target of $142.66 and various target prices set between $105.00 and $124.00.

DoubleLine ETF Adviser LP bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,173 shares of the company's stock, valued at approximately $1,215,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in Airbnb during the fourth quarter worth approximately $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC boosted its stake in shares of Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after buying an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after buying an additional 174 shares in the last quarter. Finally, SouthState Corp boosted its position in Airbnb by 216.1% during the first quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $127.53, for a total transaction of $30,097,080.00. Following the completion of the sale, the director owned 1,412,015 shares in the company, valued at $180,074,272.95. This trade represents a 14.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elinor Mertz sold 4,630 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the sale, the chief financial officer owned 444,070 shares of the company's stock, valued at approximately $57,027,469.40. This trade represents a 1.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,438,926 shares of company stock valued at $188,880,433. Company insiders own 27.83% of the company's stock.

Airbnb Stock Performance

Shares of ABNB stock traded up $0.81 during trading hours on Monday, reaching $124.62. The company had a trading volume of 4,763,659 shares, compared to its average volume of 5,240,406. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a market capitalization of $77.44 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13. The stock's fifty day simple moving average is $131.64 and its 200 day simple moving average is $129.11.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $3.02 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Phillip Securities upgraded Airbnb from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 8th. UBS Group reduced their target price on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. BNP Paribas upgraded Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Finally, Truist Financial dropped their price target on Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $142.66.

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.