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

Airbnb, Inc. (NASDAQ:ABNB) Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total value of $30,552,560.00. Following the completion of the transaction, the director now owns 944,015 shares in the company, valued at approximately $122,212,181.90. The trade was a 20.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, June 9th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was sold at an average price of $139.40, for a total value 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 stock was 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 value 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 value of $24,475,632.70.
• On Tuesday, April 8th, Joseph Gebbia sold 214,285 shares of Airbnb stock. The shares were sold at an average price of $108.76, for a total value of $23,305,636.60.

Airbnb Trading Down 1.9%

Shares of NASDAQ:ABNB opened at $129.67 on Thursday. The stock has a market capitalization of $81.23 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 2.47 and a beta of 1.14. The stock’s 50-day moving average price is $129.14 and its 200-day moving average price is $130.50. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93.

Airbnb (NASDAQ:ABNB) last posted 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). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. Airbnb’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Institutional Investors Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABNB. Harris Associates L P boosted its holdings in shares of Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after purchasing an additional 4,598,125 shares during the period. Norges Bank purchased a new position in shares of Airbnb during the fourth quarter valued at approximately $433,374,000. Pacer Advisors Inc. raised its holdings in shares of Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after acquiring an additional 2,685,026 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after acquiring an additional 2,590,475 shares during the period. Finally, Two Sigma Advisers LP increased its position in Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Airbnb from $160.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Wedbush downgraded Airbnb from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $150.00 to $135.00 in a research note on Friday, May 2nd. UBS Group reduced their target price on Airbnb from $160.00 to $138.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Jefferies Financial Group raised Airbnb from a “hold” rating to a “buy” rating and increased their price target for the company from $165.00 to $185.00 in a research report on Monday, March 10th. Finally, Canaccord Genuity Group cut their price objective on Airbnb from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Airbnb presently has an average rating of “Hold” and an average price target of $141.23.

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.