5 Best Summer Stocks To Buy Now

4. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 63

Airbnb, Inc. (NASDAQ:ABNB) is a household name that has revolutionized the accommodation and lodging industry. The company owns one of the largest platforms that allows users to rent out their properties. This online model has connected tenants and hosts to find cheaper accommodation as compared to hotels. On August 3, Airbnb, Inc. (NASDAQ:ABNB) announced a Q2 GAAP EPS of $0.98 and a revenue of $2.48 billion, topping Wall Street estimates by $0.20 and $60 million, respectively. It is one of the best summer stocks to consider.

According to Insider Monkey’s first quarter database, 63 hedge funds were bullish on Airbnb, Inc. (NASDAQ:ABNB), in contrast to 54 hedge funds in the previous quarter. John Overdeck and David Siegel’s Two Sigma Advisors held the largest position in the company, with over 2.2 million shares worth $269 million.

Artisan Developing World Fund had this to say about Airbnb, Inc. (NASDAQ:ABNB) in its Q1 2023 investor letter:

“Top contributors to performance for the quarter included online travel marketplace Airbnb, Inc. (NASDAQ:ABNB). Airbnb outperformed on the resilience of the travel category including for long-term stays, and on operating leverage as cost optimization is met with revenue increases. Notably, our top four holdings entering the quarter (Sea, Meli, Nvidia, Airbnb) which represented 24.37% of capital on December 31, 2022, increased an average of 64.42% during the quarter.”