Airbnb (NASDAQ:ABNB) Director Joseph Gebbia Sells 58,000 Shares of Stock

Airbnb, Inc. (NASDAQ:ABNB) Director Joseph Gebbia sold 58,000 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $132.51, for a total value of $7,685,580.00. Following the completion of the transaction, the director directly owned 228,015 shares in the company, valued at approximately $30,214,267.65. This trade represents a 20.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $7,613,660.00.
• On Monday, February 23rd, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $121.97, for a total value 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 value 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 value of $7,730,240.00.
• On Monday, January 12th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $138.45, for a total value of $8,030,100.00.
• On Monday, December 29th, Joseph Gebbia sold 58,000 shares of Airbnb stock. The shares were sold at an average price of $136.70, for a total transaction of $7,928,600.00.

Airbnb Stock Up 1.4%

NASDAQ ABNB traded up $1.81 during trading on Wednesday, reaching $131.81. 2,529,204 shares of the stock traded hands, compared to its average volume of 4,692,941. The firm has a market cap of $80.23 billion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12. The stock’s 50-day moving average price is $128.99 and its 200 day moving average price is $126.80. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $143.88.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.10). The firm had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $0.73 earnings per share. Analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABNB. Royal Bank Of Canada reiterated an “outperform” rating on shares of Airbnb in a report on Wednesday, January 14th. Truist Financial increased their price target on Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a report on Thursday, December 4th. DA Davidson dropped their price target on Airbnb from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Citizens Jmp upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a report on Wednesday, February 4th. Finally, Cantor Fitzgerald set a $121.00 price objective on Airbnb in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $146.88.

Hedge Funds Weigh In On Airbnb

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Airbnb by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock valued at $4,649,814,000 after purchasing an additional 649,323 shares during the period. Harris Associates L P boosted its position in shares of Airbnb by 21.0% during the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock worth $2,537,205,000 after buying an additional 3,240,477 shares during the period. Geode Capital Management LLC boosted its position in shares of Airbnb by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after buying an additional 47,966 shares during the period. AQR Capital Management LLC grew its holdings in shares of Airbnb by 58.4% during the fourth quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after buying an additional 2,492,847 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Airbnb by 3.7% during the fourth quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock worth $824,356,000 after buying an additional 216,455 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

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.