Insider Selling: Airbnb (NASDAQ:ABNB) Director Sells 265,000 Shares of Stock

Airbnb, Inc. (NASDAQ:ABNB) Director Joseph Gebbia sold 265,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $138.51, for a total value of $36,705,150.00. Following the sale, the director owned 2,917,355 shares of the company’s stock, valued at approximately $404,082,841.05. The trade was a 8.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, June 1st, Joseph Gebbia sold 265,000 shares of Airbnb stock. The shares were sold at an average price of $135.45, for a total value of $35,894,250.00.
• On Tuesday, May 26th, Joseph Gebbia sold 2,860 shares of Airbnb stock. The shares were sold at an average price of $133.44, for a total value of $381,638.40.
• On Monday, May 18th, Joseph Gebbia sold 54,000 shares of Airbnb stock. The shares were sold at an average price of $134.86, for a total value of $7,282,440.00.
• On Monday, May 4th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $140.37, for a total value of $8,141,460.00.
• On Monday, April 20th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $142.59, for a total value of $8,270,220.00.
• On Monday, April 6th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $126.16, for a total value of $7,317,280.00.
• On Monday, March 23rd, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $132.51, for a total value of $7,685,580.00.

Airbnb Price Performance

Shares of ABNB traded down $0.66 during mid-day trading on Wednesday, reaching $140.54. The company had a trading volume of 3,437,262 shares, compared to its average volume of 3,650,436. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $147.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The company’s 50-day moving average is $135.79 and its 200-day moving average is $131.85. The company has a market capitalization of $84.70 billion, a P/E ratio of 34.62, a P/E/G ratio of 1.51 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities analysts anticipate that Airbnb, Inc. will post 4.91 EPS for the current year.

Institutional Trading of Airbnb

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caxton Associates LLP bought a new position in Airbnb during the first quarter worth about $258,000. Intech Investment Management LLC grew its holdings in Airbnb by 55.8% during the first quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock worth $1,453,000 after purchasing an additional 4,353 shares during the period. Sivia Capital Partners LLC grew its holdings in Airbnb by 18.8% during the second quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock worth $776,000 after purchasing an additional 927 shares during the period. WINTON GROUP Ltd bought a new position in Airbnb during the second quarter worth about $411,000. Finally, NewEdge Advisors LLC grew its holdings in Airbnb by 9.8% during the second quarter. NewEdge Advisors LLC now owns 54,054 shares of the company’s stock worth $7,153,000 after purchasing an additional 4,811 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ABNB. Truist Financial raised their price target on Airbnb from $129.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, June 12th. Susquehanna lifted their target price on Airbnb from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Cantor Fitzgerald upgraded Airbnb from a “neutral” rating to an “overweight” rating in a report on Monday, May 4th. Mizuho lifted their price target on Airbnb from $156.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Finally, Robert W. Baird set a $150.00 price target on Airbnb in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Airbnb has an average rating of “Moderate Buy” and an average target price of $157.96.

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.