SAN FRANCISCO—Joseph Gebbia, a director and ten-percent owner of Airbnb, Inc. (NASDAQ:ABNB), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Gebbia disposed of 214,285 shares of Airbnb's Class A common stock on January 6, 2025. The transaction comes as Airbnb maintains a strong market position with an $81.8 billion market capitalization and impressive 83% gross profit margins. The sales were executed under a prearranged trading plan adopted in August 2024.
The shares were sold at prices ranging from $134.8794 to $138.0743 per share, amounting to a total transaction value of approximately $29.1 million. Following these transactions, Gebbia holds 1,285,715 shares indirectly through the Sycamore Trust. InvestingPro analysis shows Airbnb maintains robust financial health with more cash than debt on its balance sheet and strong liquidity ratios.
These recent sales reflect Gebbia's continued management of his substantial investment in Airbnb, a company he co-founded. The transactions were part of a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks to avoid any potential accusations of insider trading. For deeper insights into Airbnb's valuation and 12+ exclusive ProTips, visit InvestingPro.
In other recent news, Airbnb is currently under investigation by Spain's Consumer Rights Ministry for failing to remove thousands of unregulated rental listings. If found in violation, the company faces a potential penalty of up to 100,000 euros. Simultaneously, Airbnb's stock price target was slightly lowered by Truist Securities, although the firm maintains a Hold rating on the stock. This followed revised earnings projections for the company for the upcoming years.
Booking Holdings (NASDAQ:BKNG), on the other hand, reported that inflation is still affecting US travel plans, with American consumers delaying their vacation planning. Despite this, Booking's CFO, Ewout Steenbergen, remains optimistic about the future of the US travel market.
In a series of analyst notes, Airbnb's stock price target was increased to $131 by DA Davidson, based on the company's strong 2025 forecast. However, PhillipCapital downgraded Airbnb's stock to Reduce due to concerns about the company's valuation premium. These are some of the recent developments for both Airbnb and Booking Holdings.
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