5 Best Advertising Stocks to Buy Now

2. Facebook, Inc. (NASDAQ: FB)

Number of Hedge Fund Holders: 242   

Facebook, Inc. (NASDAQ: FB) is a California-based firm founded in 2004. It is ranked second on our list of 10 best advertising stocks to buy now. Facebook owns and runs several social networking platforms and sells advertising space on these platforms to different businesses. The company uses the data provided by users to offer business owners targeted access to their clientele, a practice that has stirred controversy in recent years. The firm is one of two big tech giants that have a monopoly on digital advertising revenues on the internet. 

Facebook, Inc. (NASDAQ: FB) stock surged close to 7% to all time highs late last month after the firm posted a strong quarterly earnings report. Investment advisory Truist boosted price targets on Facebook to $400 from $350 the same day. 

At the end of the fourth quarter of 2020, 242 hedge funds in the database of Insider Monkey held stakes worth $38 billion in the firm, up from 230 in the preceding quarter worth $29 billion. 

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