The transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a set time. Following these sales, Gebbia retains ownership of shares both directly and indirectly through various entities.Additionally, Gebbia exercised stock options, acquiring 11,636 shares at a price of $40.18 per share, totaling $467,534. This exercise was part of a previously established stock option plan. These transactions highlight the ongoing portfolio management by Gebbia, who remains a key figure in Airbnb (NASDAQ:ABNB)'s leadership and ownership structure. According to InvestingPro's financial health assessment, Airbnb maintains a "GREAT" overall score, with strong cash positions exceeding its debt obligations. Discover more insights about Airbnb and 1,400+ other stocks through InvestingPro's comprehensive research reports. According to InvestingPro's financial health assessment, Airbnb maintains a "GREAT" overall score, with strong cash positions exceeding its debt obligations. Discover more insights about Airbnb and 1,400+ other stocks through InvestingPro's comprehensive research reports.
The transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a set time. Following these sales, Gebbia retains ownership of shares both directly and indirectly through various entities.
Additionally, Gebbia exercised stock options, acquiring 11,636 shares at a price of $40.18 per share, totaling $467,534. This exercise was part of a previously established stock option plan.
These transactions highlight the ongoing portfolio management by Gebbia, who remains a key figure in Airbnb's leadership and ownership structure.
In other recent news, Airbnb has seen several noteworthy developments. Truist Securities lowered its price target for Airbnb to $123, maintaining a Hold rating on the stock. The company's earnings expectations were revised downward by 11 analysts, despite Airbnb's strong gross profit margin of 83.07%. Truist Securities has also updated the adjusted EBITDA forecast for 2024, 2025, and 2026, with minor changes in the estimates for each year.
DA Davidson has set a new price target for Airbnb at $131, reflecting a broader re-rating in the large-cap technology sector and a slight increase in the firm's financial projections for Airbnb. This adjustment came after Airbnb's third quarter of 2024 results surpassed expectations, with revenues coming in at $3,732 million, a 10% increase year-over-year.
However, PhillipCapital downgraded Airbnb's stock from Neutral to Reduce, citing concerns about Airbnb's valuation premium. Despite the downgrade, the firm has slightly increased its revenue and adjusted profit after tax and minority interests estimates for the fiscal year 2024 by 1%.
Evercore ISI maintained its "In Line" rating for Airbnb, based on positive October data from AirDNA, a short-term rental analytics company. Susquehanna also maintained a Positive rating on Airbnb, raising its price target to $160 from the previous $130. The firm's analysis indicates a slight increase in the expected EBITDA and EPS for 2024, and a modest 1% increase in the 2025 revenue estimates. These are the recent developments for Airbnb.
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