Movement Alert|Airbnb, Inc. Falls 3.07% in Regular Trading, Major Shareholder Sells Over 300K Shares as Multiple Banks Cut Price Targets

Market Focus07-23 23:03

On July 23, Airbnb, Inc. fell 3.07% in regular trading, trading at $135.795/share, with turnover of $92.47 million.

On the news front, Goldman Sachs on July 20 lowered its price target on Airbnb from $157 to $155 while maintaining a Neutral rating. Cantor Fitzgerald also previously cut its target from $150 to $140, maintaining Neutral. Meanwhile, major shareholder Joseph Gebbia, holding over 10% of shares, sold more than 300,000 shares between July 13 and July 16, cashing out over $70 million. The consecutive large-scale disposals have weighed on market confidence.

Within the Hotels, Resorts & Cruise Lines sector, broad weakness persisted. Among peers, Booking Holdings fell 3.15%, Carnival declined 2.66%, Hilton dropped 1.56%, Marriott lost 1.52%, and Royal Caribbean Cruises slipped 0.02%. The next earnings report is scheduled for August 6, with consensus EPS estimate at $1.20.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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