Insider Selling: Airbnb (NASDAQ:ABNB) Director Sells 58,000 Shares of Stock

Airbnb, Inc. (NASDAQ:ABNB) Director Joseph Gebbia sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $121.97, for a total value of $7,074,260.00. Following the completion of the transaction, the director directly owned 344,015 shares in the company, valued at approximately $41,959,509.55. This represents a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Joseph Gebbia also recently made the following trade(s):

• On Monday, February 9th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $121.15, for a total transaction of $7,026,700.00.
• On Monday, January 26th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $133.28, for a total transaction of $7,730,240.00.
• On Monday, January 12th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $138.45, for a total value of $8,030,100.00.
• On Monday, December 29th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $136.70, for a total value of $7,928,600.00.
• On Monday, December 15th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $130.56, for a total transaction of $7,572,480.00.
• On Monday, December 1st, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $118.47, for a total transaction of $6,871,260.00.

Airbnb Price Performance

Shares of Airbnb stock traded up $6.36 on Wednesday, reaching $132.02. The company had a trading volume of 7,249,908 shares, compared to its average volume of 5,009,160. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $145.69. The firm has a market cap of $80.36 billion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 1.67 and a beta of 1.15. The firm’s 50-day moving average price is $130.79 and its two-hundred day moving average price is $125.98.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the business posted $0.73 EPS. Airbnb’s revenue was up 12.9% compared to the same quarter last year. As a group, analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Institutional Trading of Airbnb

A number of hedge funds have recently modified their holdings of the stock. Fort Washington Investment Advisors Inc. OH raised its position in shares of Airbnb by 3.5% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 962,551 shares of the company’s stock worth $116,873,000 after purchasing an additional 32,501 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Airbnb by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,925,689 shares of the company’s stock valued at $387,186,000 after acquiring an additional 31,120 shares in the last quarter. Cerity Partners LLC increased its position in shares of Airbnb by 18.1% during the third quarter. Cerity Partners LLC now owns 364,824 shares of the company’s stock worth $44,297,000 after purchasing an additional 55,838 shares in the last quarter. National Pension Service raised its stake in Airbnb by 1.1% in the 3rd quarter. National Pension Service now owns 1,096,411 shares of the company’s stock valued at $133,126,000 after purchasing an additional 12,453 shares during the last quarter. Finally, Abacus FCF Advisors LLC boosted its stake in Airbnb by 7.8% during the 3rd quarter. Abacus FCF Advisors LLC now owns 135,577 shares of the company’s stock worth $16,462,000 after purchasing an additional 9,864 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABNB. Deutsche Bank Aktiengesellschaft upgraded Airbnb from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research report on Friday, February 13th. Benchmark decreased their price objective on shares of Airbnb from $155.00 to $145.00 and set a “buy” rating for the company in a report on Friday, February 13th. BMO Capital Markets upped their target price on shares of Airbnb from $130.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. Mizuho set a $156.00 price target on shares of Airbnb in a research note on Friday, November 7th. Finally, Barclays boosted their price target on Airbnb from $120.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $148.69.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.