5 Best Stocks to Buy Now According to Billionaire Paul Tudor Jones

3. Airbnb, Inc. (NASDAQ:ABNB)

Tudor Investment Corp’s Stake Value: $47.42 million

Percentage of Tudor Investment Corp’s 13F Portfolio: 1.11%

Number of Hedge Fund Holders: 66

Airbnb, Inc. (NASDAQ:ABNB) operates an online platform which lets users rent lease their properties for short-term vacation rentals. It operates in almost every country and region around the globe, with around 100,000 cities worldwide having rentals listed on Airbnb.

On June 3, Truist analyst Naved Khan lowered the firm’s price target on Airbnb, Inc. (NASDAQ:ABNB) to $160 from $190 and reiterated a ‘Hold’ rating on the company’s shares. Although travel demand remains on track for a robust recovery in the near-term, the analyst sees some degree of consumer sensitivity to inflationary pressures according to recent data. ABNB shares have slid more than 47% in the first six months of 2022.

Paul Tudor Jones held a $47.4 million stake in Airbnb, Inc. (NASDAQ:ABNB) in the first quarter, consisting of roughly 276,000 shares. This represented a 3% increase from the previous quarter, when the billionaire held 269,000 shares of the travel firm.

In total, 66 hedge funds held Airbnb, Inc. (NASDAQ:ABNB) stock in their portfolios at the end of the first quarter, with a collective value of $3.69 billion. This showed an uptick in investor sentiment over the previous quarter, when 63 hedge funds were long ABNB shares. The firm’s most prominent shareholder in the first quarter was Renaissance Technologies, with $584.6 million worth of shares.

Asset management firm Tollymore Investment Partners mentioned Airbnb, Inc. (NASDAQ:ABNB) in its Q3 2021 investor letter, stating:

“Today disruptors are not typically seeking to replace incumbents entirely. Rather, they break the links in the customer journey, in doing so better aligning monetisation with value creation and minimising externalities. For example, Airbnb broke the link between staying in residential property and owning it. Airbnb is a specific example of a business model innovation which separated asset use from ownership. This is hardly a novel idea; it’s called renting. Rental models lend themselves to assets which are expensive and durable, and where usage is infrequent.”