8 Stocks Jeff Bezos is Buying

3. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 63

Airbnb, Inc. (NASDAQ:ABNB), based in San Francisco, operates an online platform that connects homeowners with travelers seeking accommodations.

On September 27, Raymond James initiated coverage of ABNB stock with a Market Perform rating. The firm believes Airbnb, Inc. (NASDAQ:ABNB) is well-positioned to evolve from a search-based accommodation platform into a more interactive travel concierge, which could boost user engagement and expand its inventory. With over 50 million users, Airbnb’s strong reputation supports this strategic shift. While optimistic about the company’s long-term potential—especially with advancements in Generative AI agents—Raymond James notes that investments in growth initiatives, such as expansion into emerging markets, could weigh on short-term performance.

In Q2 2024, Airbnb’s revenue increased by 11% to $2.75 billion, with gross booking value also rising 11% to $21.2 billion. The company continues to generate strong cash flow, and its substantial international growth opportunities are a key factor driving optimism.

As of the second quarter, 63 hedge funds held stakes in Airbnb, Inc. (NASDAQ:ABNB), with total holdings valued at $2.6 billion.