Airbnb (NASDAQ:ABNB) Director Sells $29,584,960.00 in Stock

Airbnb, Inc. (NASDAQ:ABNB) Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $125.36, for a total value of $29,584,960.00. Following the sale, the director owned 15 shares in the company, valued at approximately $1,880.40. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, August 4th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was sold at an average price of $129.71, for a total transaction of $30,611,560.00.
• On Monday, July 21st, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was sold at an average price of $138.83, for a total transaction 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.
• On Monday, June 23rd, Joseph Gebbia sold 236,000 shares of Airbnb stock. The stock was sold at an average price of $129.46, for a total transaction of $30,552,560.00.
• On Monday, June 9th, Joseph Gebbia sold 236,000 shares of Airbnb stock. The shares were sold at an average price of $139.40, for a total transaction 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 value of $30,363,760.00.
• On Wednesday, May 28th, Joseph Gebbia sold 2,509 shares of Airbnb stock. The stock was sold at an average price of $128.70, for a total transaction of $322,908.30.

Airbnb Price Performance

ABNB stock opened at $124.96 on Thursday. The stock has a market capitalization of $77.66 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 2.30 and a beta of 1.13. The company has a 50 day moving average price of $132.98 and a 200 day moving average price of $130.58. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Airbnb during the second quarter worth about $447,000. Cape Investment Advisory Inc. grew its position in shares of Airbnb by 7,501.0% in the 2nd quarter. Cape Investment Advisory Inc. now owns 7,601 shares of the company’s stock valued at $1,006,000 after purchasing an additional 7,501 shares during the period. Asset Dedication LLC increased its stake in Airbnb by 14.6% during the 2nd quarter. Asset Dedication LLC now owns 1,344 shares of the company’s stock worth $178,000 after purchasing an additional 171 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Airbnb by 172.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 13,765 shares of the company’s stock worth $1,822,000 after buying an additional 8,707 shares during the period. Finally, Caxton Associates LLP raised its holdings in Airbnb by 72.5% during the 2nd quarter. Caxton Associates LLP now owns 3,723 shares of the company’s stock worth $493,000 after buying an additional 1,565 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABNB. Wells Fargo & Company set a $110.00 price target on Airbnb and gave the company an “underweight” rating in a research note on Thursday, August 7th. Piper Sandler dropped their price objective on Airbnb from $145.00 to $132.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Canaccord Genuity Group reduced their target price on Airbnb from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Zacks Research upgraded Airbnb to a “hold” rating in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group lowered their price target on Airbnb from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $142.72.

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.