Airbnb (ABNB) Stock: $8M Insider Sale Fails to Shake Analyst Confidence

TLDR

• Airbnb director Joseph Gebbia sold 58,000 shares on January 12 for $8.03 million at $138.45 per share, reducing his holdings by 10.07%
• Gebbia has sold nearly 936,000 shares since late October across multiple transactions, with total proceeds exceeding $115 million
• Airbnb stock traded at $132.79 on Wednesday, down $7.28, with a market cap of $81.7 billion
• RBC Capital maintains Outperform rating with $170 price target, citing hotel strategy growth potential
• Analysts hold consensus “Hold” rating with average price target of $147.84

Airbnb director Joseph Gebbia sold 58,000 shares on January 12. The transaction netted him $8.03 million at an average price of $138.45 per share.

Airbnb, Inc., ABNB

The sale dropped Gebbia’s stake to 518,015 shares. This represents a 10.07% reduction in his position.

The January transaction continues a pattern of heavy selling by Gebbia. Since late October, he has unloaded nearly 936,000 shares through multiple sales.

His largest single sale came on November 10 when he sold 236,000 shares for $28.5 million. Another large transaction on October 27 brought in $30.3 million from 236,000 shares.

The selling spree has been remarkably consistent. Gebbia executed sales on November 24, December 1, December 15, and December 29 in addition to the recent January sale.

Total proceeds from these transactions exceed $115 million. All sales were disclosed through SEC filings as required for company insiders.

Stock Performance and Trading

Airbnb shares traded at $132.79 on Wednesday. The stock dropped $7.28 during the trading session.

Trading volume reached 7.68 million shares. This exceeded the average daily volume of 4.23 million shares.

The stock trades between a 52-week low of $99.88 and a high of $163.93. Its 50-day moving average sits at $127.16 while the 200-day average is $127.73.

The company carries a market capitalization of $81.74 billion. Its price-to-earnings ratio stands at 31.54 with a PEG ratio of 2.15.

Analyst Outlook and Hotel Strategy

RBC Capital reiterated an Outperform rating on January 14. The firm set a price target of $170.

The analyst upgrade centers on Airbnb’s hotel expansion strategy. RBC estimates that each 10% market penetration in cities like Madrid could add 40-80 basis points to room night growth.

RBC believes stock price improvements will arrive before financial results fully reflect the hotel strategy. The firm notes positive market reception despite some uncertainty about timing.

The consensus analyst rating remains at “Hold” with an average price target of $147.84. Multiple firms have upgraded their ratings in recent months.

B.Riley moved from Neutral to Buy with a $170 target. Barclays shifted from Underweight to Equalweight with a $120 target.

Cantor Fitzgerald upgraded from Underweight to Neutral at $141. These changes reflect shifting sentiment about the company’s growth prospects.

Airbnb reported Q3 earnings on November 6. The company posted $2.21 per share, missing estimates of $2.31 by 10 cents.

Revenue hit $4.10 billion for the quarter. This beat analyst expectations of $4.08 billion and marked 9.9% year-over-year growth.

The company maintains a 22.03% net margin and 32.14% return on equity. Analysts project full-year earnings of $4.31 per share.

Institutional investors own 80.76% of the stock. Vanguard Group increased its position by 1.7% in Q3 to hold 38.3 million shares worth $4.65 billion.

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