Airbnb Director and Co-Founder Sells 236,000 Shares Worth $28.1 Million

Director Joe Gebbia sold 236,000 shares of Airbnb (NASDAQ:ABNB) in open-market transactions on Oct. 13, 2025, as reported on the SEC Form 4 filing.

Transaction summary

Transaction value is based on the SEC Form 4 weighted average purchase price ($119.22 as of Oct. 13, 2025).

Key questions

What proportion of Joseph Gebbia’s direct holdings was sold in this transaction?
The shares were under indirect ownership. As of Oct. 13, 2025. 2,860 direct shares remain post-transaction.

How does the trade size compare to Joseph Gebbia's historical selling pattern?
The 236,000-share sale matches the historical median for sell-only events (236,000 shares), as calculated across 49 prior open-market dispositions. This indicates the recent sale was in line with the typical trade size established over the historical period.

What was the market context at the time of sale?
Shares were priced at $119.22 on a weighted average basis, reflecting a drop of 9.6% year to date leading into the transaction.

Are there any remaining derivative or indirect holdings?
704,015 indirect share ownership, and 2,860 direct shares remain outstanding.

Company overview

* 1-year performance calculated using Oct. 17, 2025 as the reference date.

Company snapshot

Airbnb offers an online platform connecting hosts with guests for booking private rooms, entire homes, and curated experiences globally.

The company operates a marketplace model for booking spaces and experiences.

It caters to travelers, vacationers, and experience seekers seeking alternative accommodations and local activities worldwide.

Airbnb is a global travel platform facilitating short-term stays and experiences. The company leverages a scalable marketplace model, enabling efficient matching of supply and demand in the alternative accommodations sector. Airbnb maintains a broad inventory and extensive reach.

Foolish take

The Airbnb director and co-founder also unloaded 236,000 shares worth about $29 million on Sept. 29. Both sales reported on the SEC Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on Feb. 26, 2025. Investors shouldn't, therefore, be overly concerned that the insider has any new issues with holding shares of Airbnb.

Gebbia indirectly still owns over 700,000 shares worth nearly $90 million at Airbnb's closing price on Oct. 17. He has significantly reduced his stake with the two recent sales, however. By setting up a trading plan in February, it's possible that Gebbia has decided to meaningfully reduce his stake in Airbnb.

Investors can't read too much into that, though. There are many reasons insiders may sell stock. It could be for personal financial management, or there could be other ventures the entrepreneur is pursuing.

Investors concerned with these insider sales should perform more research into the company to see if any other yellow flags stand out.

Glossary

Director: A member of a company’s board responsible for overseeing management and major decisions.
Open-market transaction: Buying or selling securities on a public exchange, not through private agreements.
SEC Form 4: A regulatory filing disclosing insider trades by company officers, directors, or major shareholders.
Direct ownership: Holding securities in one’s own name, not through intermediaries or entities.
Indirect holdings: Securities owned through trusts, funds, or other entities rather than directly.
Weighted average purchase price: The average price paid per share, adjusted for the number of shares in each transaction.
Disposition: The act of selling or otherwise transferring ownership of an asset.
Median: The middle value in a set of numbers, with half above and half below.
Marketplace model: A business structure connecting buyers and sellers, typically via an online platform.
Alternative accommodations: Lodging options outside traditional hotels, such as private homes or rooms.
TTM: The 12-month period ending with the most recent quarterly report.

Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Airbnb. The Motley Fool has a disclosure policy.