Insider Selling: Airbnb (NASDAQ:ABNB) Director Sells 236,000 Shares of Stock

Key Points

• Joseph Gebbia, a director at Airbnb, sold 236,000 shares on October 13 at an average price of $119.22, totaling approximately $28.1 million, which reduced his ownership by 25.11%.
• Following this transaction, Gebbia retains 704,015 shares valued at nearly $83.9 million, indicating a significant reduction in his stake in the company.
• Airbnb's stock performance shows a 52-week range between $99.88 and $163.93, with a current trading price of $124.26, and the company has an impressive market cap of $77.22 billion.

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, October 13th. The shares were sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the completion of the sale, the director directly owned 704,015 shares in the company, valued at $83,932,668.30. This represents a 25.11% 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, September 29th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was sold at an average price of $123.57, for a total transaction of $29,162,520.00.
• On Monday, September 15th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was sold at an average price of $120.76, for a total transaction of $28,499,360.00.
• On Tuesday, September 2nd, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was sold at an average price of $127.53, for a total transaction of $30,097,080.00.
• On Monday, August 18th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was 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 stock was sold at an average price of $138.83, for a total transaction of $32,763,880.00.

Airbnb Price Performance

NASDAQ:ABNB traded up $1.37 on Wednesday, hitting $124.26. 5,675,583 shares of the company's stock were exchanged, compared to its average volume of 5,185,748. The firm has a 50-day moving average price of $123.96 and a 200-day moving average price of $127.23. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The company has a market cap of $77.22 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 2.17 and a beta of 1.10.

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

Institutional Trading of Airbnb

Several large investors have recently made changes to their positions in ABNB. GAMMA Investing LLC boosted its position in shares of Airbnb by 98.9% during the 1st quarter. GAMMA Investing LLC now owns 5,115 shares of the company's stock worth $611,000 after acquiring an additional 2,543 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in 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 in the last quarter. Ritholtz Wealth Management boosted its position in 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 in the last quarter. Exchange Traded Concepts LLC boosted its position in Airbnb by 0.8% in the first quarter. Exchange Traded Concepts LLC now owns 19,325 shares of the company's stock valued at $2,309,000 after buying an additional 147 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG acquired a new stake in Airbnb in the first quarter valued at approximately $694,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Analysts Set New Price Targets

ABNB has been the topic of a number of research analyst reports. BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the company a "market perform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. UBS Group lowered their price target on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Citizens Jmp raised shares of Airbnb to a "hold" rating in a report on Monday, August 11th. Finally, Jefferies Financial Group lowered their price target on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $141.81.

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.

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