5 Best Advertising and Ad Tech Stocks To Buy Now

2. Meta Platforms, Inc. (NASDAQ:FB)

Number of Hedge Fund Holders: 224

Meta Platforms, Inc. (NASDAQ:FB) is a key player in the social media and advertising industries. In 2020, more than 97% of Meta Platforms, Inc.’s (NASDAQ:FB) global revenues came from advertising. The company’s ad revenues amounted to over $86 billion in 2020. In 2021, this shot up to annual revenues of $114.93 billion from digital advertising.

For the fiscal fourth quarter of 2021, Meta Platforms, Inc. (NASDAQ:FB) reported quarterly revenues of $33.67 billion, of which $32.64 billion were generated from advertising. The company’s revenues went up by 19.95% year over year and beat revenue estimates by $230.6 million. The company reported earnings per share of $3.67.

On April 7, UBS analyst Lloyd Walmsley raised his price target on Meta Platforms, Inc. (NASDAQ:FB) to $300 from $280 and reiterated a Buy rating on the shares.

Meta Platforms, Inc. (NASDAQ:FB) was spotted on 224 hedge fund portfolios by the end of the fourth quarter of 2021. The total stakes of these funds in the company amounted to $31.84 billion. Of these, Ken Fisher’s Fisher Asset Management was the most prominent shareholder in the company, having stakes of $3.22 billion as of April 8, 2022.

Here is what Boyar Value Group had to say about Meta Platforms, Inc. (NASDAQ:FB) in its fourth-quarter 2021 investor letter:

“Corporate executives can have many different reasons for selling shares (anticipation of tax law changes, philanthropy, diversification, and much more), but the sheer number of billionaire founders who sold shares in 2021 should raise eyebrows and might well be signaling a market top. Bloomberg’s Ben Steverman and Scott Carpenter report not only that Mark Zuckerberg of Meta Platforms Inc. (formerly known as Facebook) sold shares in his company almost every day last year but also that the founders of Google sold ~$3.5 billion worth of stock (the first time either Sergey Brin or Larry Page has sold shares since 2017).”