5 Best Stocks To Invest In Right Now

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

Number of Hedge Fund Holders: 177

Formerly known as Facebook, Inc., Meta Platforms, Inc. (NASDAQ:FB) is an American multinational technology conglomerate. Meta Platforms, Inc. (NASDAQ:FB) is the world’s largest online social network that provides its services through platforms like Facebook, Instagram, Messenger, and WhatsApp.

The Q3 revenue reported by Meta Platforms, Inc. (NASDAQ:FB) stood at $27.71 billion, beating market expectations by $313.82 million. The Normalized EPS was reported to be $1.64, missing market expectations by $0.21. While commenting on the Q3 results, The CEO said that the company is facing some short-term challenges, but he believes in the fundamentals of the company, which will help in emerging with stronger revenue growth.

177 hedge funds were long on the company’s stock at the end of the third quarter, according to Insider Monkey’s database. Fisher Asset Management had the biggest long position in the company at the end of Q3 2022.

ClearBridge Investments, an investment management company, mentioned Meta Platforms, Inc. (NASDAQ:META) in its third-quarter 2022 investor letter. Here’s what the firm said:

We initiated a new position in Meta Platforms, Inc. (NASDAQ:META), in the communication services sector, which operates the Facebook and Instagram social media platforms and is a leading digital advertising provider. We have been carefully watching the company over the last few quarters and believe headwinds from lower monetizing in Facebook and Instagram Reels and pressures from consumer privacy measures are poised to lessen. We believe the company has begun to fully acclimate to this new environment, will achieve greater effectiveness in Reels monetization and find ways to adapt to new privacy standards which will rebound advertising efficiency. Combined with a greater focus on cost control, we believe these initiatives will help contribute to further margin expansion and leave the company well-positioned moving forward.