Here’s What Makes Airbnb (ABNB) a Great Investment Choice

ClearBridge Investments, an investment management firm, published its “Aggressive Growth Strategy” second quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Aggressive Growth Strategy outperformed its Russell 3000 Growth Index benchmark in the second quarter. On an absolute basis, the Strategy had losses across the eight sectors in which it was invested (out of 11 sectors total). The primary detractors were in the IT and communication services sectors. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, ClearBridge Aggressive Growth Strategy mentioned Airbnb, Inc. (NASDAQ:ABNB) and explained its insights for the company. Founded in 2008, Airbnb, Inc. (NASDAQ:ABNB) is a San Francisco, California-based vacation rental company with a $73.2 billion market capitalization. Airbnb, Inc. (NASDAQ:ABNB) delivered a -30.91% return since the beginning of the year, while its 12-month returns are down by -21.97%. The stock closed at $115.02 per share on August 03, 2022.

Here is what ClearBridge Aggressive Growth Strategy has to say about Airbnb, Inc. (NASDAQ:ABNB) in its Q2 2022 investor letter:

“Airbnb is the leading online platform for alternative accommodations globally. We believe the company is well-positioned to capitalize on the large and growing market for travel and experiences, with the potential for growth in e-travel to be higher post pandemic due to pent-up demand and increased work from anywhere flexibility. Airbnb is highly profitable today, though we see room for further margin expansion ahead. Furthermore, secular underpinnings to growth, a more variable cost structure and strong balance sheet should help the company drive better through-cycle performance as compared to its consumer discretionary peers.”

Photo by Karsten Winegeart on Unsplash

Our calculations show that Airbnb, Inc. (NASDAQ:ABNB) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Airbnb, Inc. (NASDAQ:ABNB) was in 66 hedge fund portfolios at the end of the second quarter of 2022, compared to 63 funds in the previous quarter. Airbnb, Inc. (NASDAQ:ABNB) delivered a -26.35% return in the past 3 months.

In December 2021, we also shared another hedge fund’s views on Airbnb, Inc. (NASDAQ:ABNB) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

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