Airbnb (ABNB) Director and major shareholder, Joseph Gebbia, recently sold shares of the company worth $23.3 million. According to the SEC filing, Gebbia divested 214,300 shares of ABNB on April 8 at prices ranging from $104.54 to $112.38 per share. ABNB is a global online platform that provides accommodation options.
The transaction was conducted under a pre-established Rule 10b5-1 trading plan adopted on May 31, 2024. Notably, Rule 10b5-1 plans let company insiders set up a schedule to buy or sell stock in advance. This helps them avoid any trouble with insider trading rules.
Following the latest transaction, Gebbia owns 2.35 million shares indirectly via the Sycamore Trust, along with 2,509 shares held directly in his name.
Investors may benefit from keeping an eye on transactions made by key insiders, as these trades typically reflect their trust in the company’s future. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Top-Rated Analysts Have Mixed Feelings About ABNB Stock
In the past week, Airbnb stock has received one Buy, two Holds, and one Sell rating from Top Wall Street analysts, which reflects their mixed opinions about the stock’s prospects.
John Colantuoni from Jefferies (JEF) rated the stock a Buy yesterday, but lowered the price target to $170 (49.2% upside) from $185.
Among the neutral analysts, JPMorgan’s (JPM) Doug Anmuth cut Airbnb’s stock price target to $115 from $160. He believes ABNB could be impacted by tariffs, economic headwinds, and a possible recession. He noted that e-commerce, online travel, and digital ads are most at risk from these headwinds.
Is Airbnb a Good Stock to Buy Now?
Turning to Wall Street, ABNB has a Hold consensus rating based on 12 Buys, 17 Holds, and four Sells assigned in the last three months. At $157.52, the average Airbnb stock price target implies a 38.28% upside potential.
