5 Best Technology Stocks to Buy for Long Term

2. Facebook, Inc. (NASDAQ: FB)

No. of Hedge Fund Holders: 242

Facebook, Inc. (NASDAQ: FB) is a behemoth that owns Facebook.com, Instagram, WhatsApp and several other companies. On May 4, 2021, Facebook said that they now had seven million paid subscribers in its Workplace tool. This was an increase of 40% from the previous year. Facebook Q1 revenue was $26.17 billion vs. expectation of $23.67 billion. EPS in the quarter  came in at $3.30 per share, beating the Street’s estimates of $2.37. The daily and monthly active users were 1.88 billion and 2.85 billion respectively. The ARPU for the period was $9.27. 

Truist Securities has raised its price target for Facebook stock to $400 from $350. JMP Securities also raised the price target to $395 from $355, calling the stock a “must own” for advertising.

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

As of the end of the fourth quarter, there were 242 hedge funds in Insider Monkey’s database that held stakes in Facebook, compared to 230 funds in the third quarter. SB Management, with 12 million shares of FB, is the biggest stakeholder in the company.