Joseph Gebbia, a director and significant shareholder of Airbnb, Inc. (NASDAQ:ABNB), recently sold shares of the company valued at approximately $27.63 million. The transactions, disclosed in a recent regulatory filing, took place on January 14, 2025. According to InvestingPro data, Airbnb currently maintains a market capitalization of $82.48 billion and trades near its 52-week high of $170.10.
The sales involved a total of 214,285 shares of Airbnb’s Class A common stock, with prices ranging from $127.43 to $131.06 per share. These transactions were executed under a pre-established Rule 10b5-1 trading plan, which Gebbia adopted on August 20, 2024.
Following these sales, Gebbia’s indirect holdings, managed through the Sycamore Trust, amount to 1,071,430 shares. Additionally, Gebbia maintains direct ownership of 2,509 shares in the company.
This move comes as part of a broader strategy by Gebbia, who remains a significant figure in Airbnb’s leadership and ownership structure.
In other recent news, Airbnb is facing a probe in Spain over unregulated rental listings, potentially leading to fines if found in violation of regulations. Meanwhile, Booking (NASDAQ:BKNG).com’s CFO noted inflationary pressure is still affecting US travel plans, with consumers delaying their vacation bookings.
In analyst updates, Truist Securities has lowered its price target for Airbnb slightly, while maintaining a Hold rating. Similarly, PhillipCapital downgraded Airbnb’s stock from Neutral to Reduce, citing concerns about the company’s valuation premium. However, DA Davidson has increased its price target for Airbnb, reflecting projections of strong performance in 2025.
Airbnb’s third quarter of 2024 results exceeded expectations, with a 10% year-over-year increase in revenues. The company’s fourth-quarter revenue guidance indicates a 7.8% to 10% increase year-over-year. These are the recent developments for Airbnb.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.