Joseph Gebbia Sells 54,256 Shares of Airbnb, Inc. (NASDAQ:ABNB) Stock

Posted by MarketBeat News on Mar 9th, 2023

Airbnb, Inc. (NASDAQ:ABNB – Get Rating) Director Joseph Gebbia sold 54,256 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $125.00, for a total value of $6,782,000.00. Following the completion of the transaction, the director now directly owns 6,833,435 shares of the company’s stock, valued at approximately $854,179,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

On Monday, February 27th, Joseph Gebbia sold 8,890 shares of Airbnb stock. The stock was sold at an average price of $125.00, for a total value of $1,111,250.00.
On Thursday, February 23rd, Joseph Gebbia sold 1,250,000 shares of Airbnb stock. The stock was sold at an average price of $124.06, for a total value of $155,075,000.00.
On Wednesday, February 15th, Joseph Gebbia sold 333,332 shares of Airbnb stock. The shares were sold at an average price of $134.12, for a total value of $44,706,487.84.
On Tuesday, December 27th, Joseph Gebbia sold 11,635 shares of Airbnb stock. The stock was sold at an average price of $84.09, for a total value of $978,387.15.
On Tuesday, December 13th, Joseph Gebbia sold 250,000 shares of Airbnb stock. The shares were sold at an average price of $95.37, for a total value of $23,842,500.00.

Airbnb Stock Down 1.5 %

Shares of NASDAQ ABNB opened at $125.00 on Thursday. Airbnb, Inc. has a 52-week low of $81.91 and a 52-week high of $179.09. The business’s 50 day moving average is $110.89 and its two-hundred day moving average is $107.29. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.36. The firm has a market cap of $80.07 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.01 and a beta of 1.15.

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Airbnb (NASDAQ:ABNB – Get Rating) last released its quarterly earnings data on Tuesday, February 14th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.21. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.86 billion. Airbnb had a net margin of 22.54% and a return on equity of 35.92%. Airbnb’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Research analysts predict that Airbnb, Inc. will post 3.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ABNB shares. Bank of America upped their price objective on shares of Airbnb from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Barclays lifted their price target on shares of Airbnb from $105.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, February 15th. Argus raised shares of Airbnb from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research note on Tuesday, February 28th. Susquehanna lifted their price target on shares of Airbnb from $135.00 to $155.00 and gave the stock a “positive” rating in a research note on Wednesday, February 15th. Finally, Piper Sandler boosted their target price on shares of Airbnb from $110.00 to $131.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $140.52.

Hedge Funds Weigh In On Airbnb

A number of hedge funds have recently made changes to their positions in the stock. Cravens & Co Advisors LLC purchased a new stake in Airbnb during the 4th quarter worth $206,000. Chelsea Counsel Co. bought a new stake in shares of Airbnb in the 4th quarter worth approximately $37,000. Centurion Wealth Management LLC acquired a new stake in shares of Airbnb during the fourth quarter valued at approximately $273,000. Wallace Advisory Group LLC acquired a new position in Airbnb in the 4th quarter valued at approximately $426,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Airbnb by 617.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 110,572 shares of the company’s stock valued at $9,454,000 after buying an additional 95,157 shares during the period. Institutional investors and hedge funds own 39.02% of the company’s stock.

About Airbnb

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Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.