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

Key Points

• Joseph Gebbia, a director at Airbnb, sold 236,000 shares of the company's stock at an average price of $123.57, totaling $29.16 million, which decreased his ownership stake by 20.07%.
• Airbnb's stock recently traded at $122.32, reflecting a slight increase of 0.7%, with a market capitalization of $76.01 billion and a price-to-earnings ratio of 29.62.
• Several institutional investors have made significant changes to their positions in Airbnb, leading to 80.76% of the stock now being owned by institutional investors and hedge funds.

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, September 29th. The shares were sold at an average price of $123.57, for a total value of $29,162,520.00. Following the completion of the sale, the director owned 940,015 shares in the company, valued at $116,157,653.55. This represents a 20.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, September 15th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $120.76, for a total value of $28,499,360.00.
• 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 value of $29,584,960.00.
• On Monday, August 4th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $129.71, for a total value 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.

Airbnb Stock Up 0.7%

NASDAQ:ABNB traded up $0.90 on Wednesday, reaching $122.32. The company's stock had a trading volume of 3,442,682 shares, compared to its average volume of 5,203,780. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The firm has a market cap of $76.01 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13. The stock has a 50 day moving average price of $127.03 and a 200 day moving average price of $127.67.

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, beating the consensus estimate of $0.92 by $0.11. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. Equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ABNB. Kentucky Trust Co acquired a new stake in shares of Airbnb in the 2nd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of 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 buying an additional 83 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Airbnb during the 2nd quarter worth approximately $28,000. Whipplewood Advisors LLC raised its stake in shares of Airbnb by 235.3% during the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company's stock worth $30,000 after buying an additional 160 shares in the last quarter. Finally, Stonebridge Financial Group LLC increased its stake in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after purchasing an additional 106 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ABNB shares. Phillip Securities upgraded Airbnb from a "moderate sell" rating to a "hold" rating in a report on Friday, August 8th. Mizuho assumed coverage on Airbnb in a report on Monday. They issued an "outperform" rating and a $151.00 target price for the company. BMO Capital Markets set a $124.00 price target on Airbnb and gave the stock a "market perform" rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price target on Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, BNP Paribas upgraded Airbnb to a "hold" rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $141.81.

Airbnb Company Profile

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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