Joseph Gebbia Sells 265,000 Shares of Airbnb (NASDAQ:ABNB) Stock

Key Points

• Airbnb director Joseph Gebbia sold 265,000 shares on June 1 at an average price of $135.45, totaling about $35.9 million. After the sale, he still owned 3.18 million shares, and his stake fell by 7.69%.
• The stock was slightly lower in trading, with ABNB down 0.6% to $133.59 amid volume below its average. The shares have traded between $110.81 and $147.25 over the past 52 weeks.
• Analysts remain moderately bullish on Airbnb despite a recent earnings miss, with the company posting $0.26 EPS versus $0.31 expected while revenue beat estimates at $2.68 billion. Wall Street’s consensus rating is “Moderate Buy,” with an average price target of $157.67.

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) Director Joseph Gebbia sold 265,000 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $135.45, for a total value of $35,894,250.00. Following the completion of the transaction, the director directly owned 3,182,355 shares in the company, valued at approximately $431,049,984.75. This represents a 7.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, May 26th, Joseph Gebbia sold 2,860 shares of Airbnb stock. The shares were sold at an average price of $133.44, for a total value of $381,638.40.
• On Monday, May 18th, Joseph Gebbia sold 54,000 shares of Airbnb stock. The shares were sold at an average price of $134.86, for a total value of $7,282,440.00.
• On Monday, May 4th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $140.37, for a total value of $8,141,460.00.
• On Monday, April 20th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $142.59, for a total value of $8,270,220.00.
• On Monday, April 6th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $126.16, for a total value of $7,317,280.00.
• On Monday, March 23rd, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $132.51, for a total value of $7,685,580.00.
• 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.

Airbnb Trading Down 0.6%

NASDAQ:ABNB traded down $0.76 during mid-day trading on Wednesday, hitting $133.59. The company had a trading volume of 3,603,743 shares, compared to its average volume of 4,236,394. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $147.25. The business's fifty day moving average is $134.07 and its two-hundred day moving average is $130.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $80.52 billion, a P/E ratio of 32.90, a P/E/G ratio of 1.48 and a beta of 1.16.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company posted $0.24 EPS. The company's quarterly revenue was up 17.9% compared to the same quarter last year. As a group, research analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ABNB shares. Citizens Jmp raised their price objective on Airbnb from $160.00 to $170.00 and gave the company a "market outperform" rating in a research report on Friday, May 8th. JPMorgan Chase & Co. lifted their price target on Airbnb from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. DA Davidson lifted their price target on Airbnb from $150.00 to $162.00 and gave the stock a "buy" rating in a report on Monday, May 11th. HSBC lowered Airbnb from a "hold" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Susquehanna raised their price objective on Airbnb from $150.00 to $170.00 and gave the stock a "positive" rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.67.

Hedge Funds Weigh In On Airbnb

Several hedge funds and other institutional investors have recently modified their holdings of ABNB. Commerzbank Aktiengesellschaft FI lifted its stake in Airbnb by 1.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company's stock valued at $727,000 after purchasing an additional 76 shares during the last quarter. Patton Fund Management Inc. lifted its stake in Airbnb by 4.3% in the fourth 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 lifted its stake in Airbnb by 11.0% in the fourth quarter. BOKF NA now owns 787 shares of the company's stock valued at $107,000 after purchasing an additional 78 shares during the last quarter. Yoder Wealth Management Inc. lifted its position in shares of Airbnb by 0.3% during the fourth quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company's stock worth $3,582,000 after acquiring an additional 84 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Airbnb by 1.0% during the third quarter. Private Advisor Group LLC now owns 8,295 shares of the company's stock worth $1,007,000 after acquiring an additional 86 shares in the last quarter. Institutional investors own 80.76% of the company's stock.

Airbnb News Roundup

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Brokerages continue to rate Airbnb as a “Moderate Buy,” suggesting Wall Street still sees upside potential for the company. Airbnb, Inc. NASDAQ: ABNB Given Average Rating of "Moderate Buy" by Brokerages
• Positive Sentiment: Analysts remain cautiously optimistic, and coverage comparing Airbnb with peers points to continued investor interest in the stock’s longer-term prospects. Is Airbnb Stock Underperforming the S&P 500?
• Neutral Sentiment: A comparison article versus United Parks & Resorts is unlikely to move the stock on its own, but it highlights how Airbnb is being evaluated against travel and leisure peers. Comparing Airbnb NASDAQ: ABNB and United Parks & Resorts NYSE: PRKS
• Negative Sentiment: CEO Brian Chesky disclosed multiple stock sales totaling millions of dollars, including a large June 1 sale, which can create concerns about insider confidence. SEC insider trading filing for Brian Chesky

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.