Joseph Gebbia Sells 236,000 Shares of Airbnb, Inc. (NASDAQ:ABNB) Stock

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $136.40, for a total transaction of $32,190,400.00. Following the sale, the director owned 708,015 shares of the company's stock, valued at $96,573,246. This represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 23rd, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $129.46, for a total transaction of $30,552,560.00.
• On Monday, June 9th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $139.40, for a total transaction of $32,898,400.00.
• On Wednesday, May 28th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00.
• On Wednesday, May 28th, Joseph Gebbia sold 2,509 shares of Airbnb stock. The shares were sold at an average price of $128.70, for a total transaction of $322,908.30.
• On Tuesday, May 20th, Joseph Gebbia sold 214,285 shares of Airbnb stock. The shares were sold at an average price of $132.52, for a total transaction of $28,397,048.20.
• On Tuesday, May 6th, Joseph Gebbia sold 214,285 shares of Airbnb stock. The shares were sold at an average price of $122.84, for a total transaction of $26,322,769.40.
• On Tuesday, April 22nd, Joseph Gebbia sold 214,285 shares of Airbnb stock. The shares were sold at an average price of $114.22, for a total transaction of $24,475,632.70.

Airbnb Price Performance

Shares of NASDAQ ABNB traded down $1.65 on Friday, hitting $135.35. The company's stock had a trading volume of 3,053,829 shares, compared to its average volume of 5,038,979. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The company has a market capitalization of $84.78 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 2.53 and a beta of 1.13. The stock has a 50 day moving average of $133.00 and a 200-day moving average of $130.60.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Airbnb

Institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Airbnb in the fourth quarter valued at approximately $1,445,000. Ritholtz Wealth Management raised its position in shares of Airbnb by 10.0% in the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock valued at $636,000 after buying an additional 484 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Airbnb by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock valued at $6,115,000 after buying an additional 228 shares during the last quarter. Spire Wealth Management raised its position in shares of Airbnb by 40.1% in the first quarter. Spire Wealth Management now owns 909 shares of the company's stock valued at $109,000 after buying an additional 260 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Airbnb by 39.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company's stock valued at $8,750,000 after buying an additional 20,753 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABNB. Tigress Financial raised their price target on shares of Airbnb from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Truist Financial reaffirmed a "sell" rating and set a $106.00 price objective (down from $112.00) on shares of Airbnb in a research report on Friday, May 30th. UBS Group decreased their price objective on shares of Airbnb from $160.00 to $138.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Canaccord Genuity Group decreased their price objective on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Wedbush cut shares of Airbnb from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $150.00 to $135.00 in a research report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $141.47.

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.