Airbnb (NASDAQ:ABNB) Director Sells $28,499,360.00 in Stock

Key Points

• Airbnb Director Joseph Gebbia sold 236,000 shares at an average price of $120.76, reducing his position by 16.71% to 1,176,015 shares.
• The company's stock recently experienced a 1.3% increase in value, trading at $123.20, with a market capitalization of $76.56 billion.
• Wall Street analysts have mixed opinions on Airbnb, with price targets ranging from $120 to $145 and an average rating of "Hold."

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $120.76, for a total transaction of $28,499,360.00. Following the completion of the transaction, the director directly owned 1,176,015 shares in the company, valued at $142,015,571.40. This trade represents a 16.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, September 2nd, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $127.53, for a total value of $30,097,080.00.
• On Monday, August 18th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $125.36, for a total transaction of $29,584,960.00.
• On Monday, August 4th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was sold at an average price of $129.71, for a total transaction of $30,611,560.00.
• On Monday, July 21st, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $138.83, for a total value of $32,763,880.00.
• On Monday, July 7th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $136.40, for a total value of $32,190,400.00.
• On Monday, June 23rd, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was sold at an average price of $129.46, for a total value of $30,552,560.00.

Airbnb Stock Up 1.3%

ABNB stock traded up $1.57 during midday trading on Friday, hitting $127.04. 9,143,581 shares of the company traded hands, compared to its average volume of 4,704,201. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock has a market capitalization of $78.95 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13. The business has a 50 day simple moving average of $129.15 and a 200-day simple moving average of $127.90.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm earned $0.86 EPS. Airbnb's quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABNB. Barclays set a $105.00 price objective on Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. BNP Paribas upgraded Airbnb to a "hold" rating in a report on Wednesday, July 16th. Citizens Jmp upgraded shares of Airbnb to a "hold" rating in a research note on Monday, August 11th. BTIG Research reaffirmed a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Finally, Truist Financial reduced their price target on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Airbnb currently has an average rating of "Hold" and a consensus price target of $141.19.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Kentucky Trust Co bought a new position in Airbnb in the second quarter valued at about $25,000. Park Square Financial Group LLC bought a new position in Airbnb in the fourth quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock worth $26,000 after acquiring an additional 83 shares during the period. Concord Wealth Partners bought a new stake in shares of Airbnb during the 2nd quarter valued at $28,000. Finally, Orion Capital Management LLC acquired a new position in shares of Airbnb in the 4th quarter valued at $28,000. 80.76% of the stock is currently owned by institutional investors.

About Airbnb

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.