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What Makes Airbnb (ABNB) a Long-Term Holding?

Artisan Partners, an investment management company, released its “Artisan Global Opportunities Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTRX returned 5.84%, Advisor Class fund APDRX posted a return of 5.90%, and Institutional Class fund APHRX returned 5.94%, compared to a return of 9.76 % for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Global Opportunities Fund highlighted stocks like Airbnb, Inc. (NASDAQ:ABNB) in its Q4 2022 investor letter. Headquartered in San Francisco, California, Airbnb, Inc. (NASDAQ:ABNB) provides a platform to enable hosts to offer stays and experiences to guests. On March 10, 2023, Airbnb, Inc. (NASDAQ:ABNB) stock closed at $118.30 per share. One-month return of Airbnb, Inc. (NASDAQ:ABNB) was 1.61%, and its shares lost 14.58% of their value over the last 52 weeks. Airbnb, Inc. (NASDAQ:ABNB) has a market capitalization of $74.686 billion.

Artisan Global Opportunities Fund made the following comment about Airbnb, Inc. (NASDAQ:ABNB) in its Q4 2022 investor letter:

"Airbnb, Inc. (NASDAQ:ABNB) is the world’s largest, well-known and fastest growing provider of short-term rental properties via a simple and intuitive online platform. The company has been benefiting from a strong recovery in travel demand so far this year, but shares have been weaker alongside growth stocks in general. Recent results showed nearly 100 million nights booked, up 25% YoY, gross booking value growth of 31% and revenue growth of 29%. We believe Airbnb will continue to generate attractive top-line growth that will outpace that of overall travel. From a demand perspective, we expect the company to continue to maintain its leadership in long-term stays and benefit from a recovery in urban, cross-border and APAC re-opening. The company has rolled out products to improve its value proposition to travelers and hosts, including “Smart Pricing” to ensure its supply continues to provide relative value to consumers, “Aircover for Hosts” to increase supply and “Categories” to better match consumer demand to available supply. Given these profit cycle tailwinds and shares trading at an attractive discount to our PMV estimate, we remain invested.”

Container House, House, Home
Container House, House, Home

Photo by Jed Owen on Unsplash

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Airbnb, Inc. (NASDAQ:ABNB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Airbnb, Inc. (NASDAQ:ABNB) at the end of the fourth quarter which was 58 in the previous quarter.

We discussed Airbnb, Inc. (NASDAQ:ABNB) in another article and shared the list of hot stocks. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.