Nathan Blecharczyk, Airbnb Inc.’s chief strategy officer and a 10% shareholder, sold approximately $67.3 million of Class A common stock over two days this week under a pre-arranged trading plan adopted last August.
The transactions were executed via a Rule 10b5-1 plan adopted on August 28, 2025. On August 24, Blecharczyk disposed of 150,640 shares through a mix of direct sales and trust dispositions at weighted average prices ranging from $190.34 to $193.14. An equal number of Class B shares held indirectly by a trust were converted to Class A shares ahead of the sales.
On August 25, an additional 202,652 shares were sold by the trust at weighted average prices between $190.00 and $191.26, while 361,652 Class B shares were converted to Class A. Blecharczyk also gifted 159,000 shares held indirectly by the trust, leaving him with 74.8 million shares of Class A stock held directly.
Airbnb’s shares have gained roughly 45% over the past year and were trading near their 52-week high of $193.45 at the time of the sales. The company’s second-quarter revenue and adjusted EBITDA for 2026 exceeded consensus by 0.8% and 2.7%, respectively, while third-quarter revenue guidance of $4.73 billion sits 2.7% above Street expectations.
Analysts have adjusted their views following the results. BMO Capital raised its price target to $165, Bernstein SocGen to $217 with an Outperform rating, and Wedbush upgraded Airbnb to Outperform with a $200 target. Phillip Securities downgraded the stock to Reduce while lifting its target to $158, citing valuation concerns. InvestingPro notes that 14 analysts have revised earnings estimates upward for the upcoming period.
