Joseph Gebbia Sells 58,000 Shares of Airbnb (NASDAQ:ABNB) Stock

Airbnb, Inc. (NASDAQ:ABNB) Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $132.51, for a total value of $7,685,580.00. Following the completion of the sale, the director owned 228,015 shares in the company, valued at $30,214,267.65. This trade represents a 20.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 9th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $131.27, for a total value of $7,613,660.00.
• On Monday, February 23rd, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $121.97, for a total transaction of $7,074,260.00.
• On Monday, February 9th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was 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 shares were sold at an average price of $138.45, for a total transaction of $8,030,100.00.
• On Monday, December 29th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $136.70, for a total transaction of $7,928,600.00.

Airbnb Stock Performance

Shares of NASDAQ ABNB traded up $1.81 during mid-day trading on Wednesday, hitting $131.81. 2,529,204 shares of the stock were exchanged, compared to its average volume of 4,692,941. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $143.88. The stock’s fifty day simple moving average is $128.99 and its two-hundred day simple moving average is $126.80. The company has a market cap of $80.23 billion, a P/E ratio of 32.63, a PEG ratio of 1.62 and a beta of 1.12.

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

Institutional Trading of Airbnb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Patton Fund Management Inc. boosted its stake in shares of Airbnb by 4.3% in the 4th quarter. Patton Fund Management Inc. now owns 1,874 shares of the company’s stock valued at $254,000 after purchasing an additional 77 shares during the last quarter. BOKF NA raised its stake in shares of Airbnb by 11.0% during the fourth quarter. BOKF NA now owns 787 shares of the company’s stock worth $107,000 after buying an additional 78 shares during the last quarter. Yoder Wealth Management Inc. lifted its holdings in Airbnb by 0.3% in the fourth quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company’s stock valued at $3,582,000 after buying an additional 84 shares during the period. Private Advisor Group LLC boosted its stake in Airbnb by 1.0% in the third quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock valued at $1,007,000 after acquiring an additional 86 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its stake in Airbnb by 4.1% in the third quarter. Koshinski Asset Management Inc. now owns 2,226 shares of the company’s stock valued at $270,000 after acquiring an additional 87 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABNB shares. Truist Financial increased their target price on Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a report on Thursday, December 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Airbnb in a report on Wednesday, January 14th. Wells Fargo & Company increased their price objective on shares of Airbnb from $128.00 to $133.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Citigroup upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 4th. Finally, UBS Group boosted their target price on shares of Airbnb from $147.00 to $149.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $146.88.

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.