Joseph Gebbia Sells 58,000 Shares of Airbnb (NASDAQ:ABNB) Stock
by Amy Steele · The Cerbat GemAirbnb, Inc. (NASDAQ:ABNB – Get Free Report) Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $126.16, for a total transaction of $7,317,280.00. Following the completion of the transaction, the director directly owned 170,015 shares of the company’s stock, valued at $21,449,092.40. This represents a 25.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Joseph Gebbia also recently made the following trade(s):
- On Monday, March 23rd, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $132.51, for a total transaction of $7,685,580.00.
- On Monday, March 9th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $131.27, for a total transaction of $7,613,660.00.
- On Monday, February 23rd, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $121.97, for a total transaction of $7,074,260.00.
- On Monday, February 9th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $121.15, for a total transaction of $7,026,700.00.
- On Monday, January 26th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $133.28, for a total transaction of $7,730,240.00.
- On Monday, January 12th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The stock was sold at an average price of $138.45, for a total transaction of $8,030,100.00.
Airbnb Stock Up 5.1%
ABNB stock traded up $6.43 during mid-day trading on Wednesday, hitting $131.40. The company had a trading volume of 3,796,810 shares, compared to its average volume of 4,513,470. The company has a market capitalization of $79.99 billion, a price-to-earnings ratio of 32.52, a P/E/G ratio of 1.53 and a beta of 1.15. Airbnb, Inc. has a 12-month low of $105.39 and a 12-month high of $143.88. The company has a 50-day moving average price of $127.78 and a 200 day moving average price of $126.99.
Airbnb (NASDAQ:ABNB – Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.10). The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. As a group, analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.
Analyst Ratings Changes
Several analysts have commented on ABNB shares. TD Cowen boosted their price target on shares of Airbnb from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Truist Financial upgraded shares of Airbnb from a “sell” rating to a “hold” rating and boosted their price target for the stock from $107.00 to $129.00 in a research note on Thursday, March 26th. Benchmark decreased their price target on shares of Airbnb from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Sanford C. Bernstein decreased their price target on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Finally, DA Davidson decreased their price target on shares of Airbnb from $155.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $149.40.
Read Our Latest Stock Analysis on ABNB
Institutional Trading of Airbnb
Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Airbnb by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock valued at $4,649,814,000 after buying an additional 649,323 shares in the last quarter. Harris Associates L P raised its position in shares of Airbnb by 21.0% during the 4th quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock valued at $2,537,205,000 after buying an additional 3,240,477 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Airbnb by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock valued at $1,368,338,000 after buying an additional 47,966 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock valued at $917,845,000 after buying an additional 2,492,847 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock valued at $824,356,000 after buying an additional 216,455 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.
Airbnb Company Profile
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.