5 Best Growth Stocks To Invest In Now

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 242

Share Price Gains Year-to-Date: 41.6%

Meta Platforms, Inc. (NASDAQ:META) operates social media platforms and offers augmented reality products, among more. It is based in Menlo Park, California.

We saw 242 hedge funds long Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, with a total stake value of $44.2 billion.

As of March 18, Roth MKM analysts hold a Buy rating and a $500 price target on Meta Platforms, Inc. (NASDAQ:META).

Ruane, Cunniff & Goldfarb mentioned Meta Platforms, Inc. (NASDAQ:META) in its fourth-quarter 2023 investor letter:

“Two additional trims, in Meta Platforms, Inc. (NASDAQ:META) and Carmax, were more substantive in nature. When Meta’s stock declined in 2022, we judged it to be significantly mispriced and held our ground through the bottom. We trimmed the position serially last year as the stock soared because we were wary of holding a large position exposed to significant regulatory risks, particularly in Europe. We are comfortable owning Meta at today’s much-reduced weighting and current valuation. The smaller position size reflects our updated assessment of the balance of long-term risk versus reward.”