5 Best Active Stocks to Buy Now

3. Facebook, Inc. (NASDAQ: FB)

Number of Hedge Fund Holders: 242  

Facebook, Inc. (NASDAQ: FB) is a California-based technology company founded by billionaire Mark Zuckerberg in 2004. It is placed third on our list of 10 best active stocks to buy now. Facebook is one of the biggest technology firms in the world in terms of overall users and market capitalization. It owns social platforms like Facebook, Instagram, and WhatsApp, and has extensive investments in other businesses like artificial intelligence and virtual reality. Facebook stock has returned more than 46% to investors in the past twelve months. 

On May 10, investment advisory Citi downgraded Facebook, Inc. (NASDAQ: FB) stock to Neutral from Buy on the back of nervous expectations for ad-based, large cap internet stocks that enjoyed a stellar start to the year but are likely to face tough competition in the second quarter for ad revenue. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in the firm with 4.7 million shares worth more than $1.3 billion.

Based on our calculations, Facebook, Inc. (NASDAQ: FB) clinched the 3rd spot in our list of the 30 Most Popular Stocks Among Hedge Funds.

In its Q1 2021 investor letter, Distillate Capital, an investment management firm, highlighted a few stocks and Facebook, Inc. (NASDAQ: FB) was one of them. Here is what the fund said:

“Facebook has come in and out of the portfolio before and did so this quarter on the back of substantial improvement in projected free cash flows such that its valuation now meets the criteria for inclusion.”