5 Consumer Technology Stocks to Invest In According to Ken Fisher

In this piece, we will take a look at the five consumer technology stocks to invest in according to Ken Fisher’s Fisher Asset Management. If you want to learn more about the billionaire hedge fund investor and more stocks, then head on over to 10 Consumer Technology Stocks to Invest In According to Ken Fisher.

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

Fisher Asset Management’s Stake Value: $3.2 billion

Percentage of Fisher Asset Management’s 13F Portfolio: 1.8%

Number of Hedge Fund Holders: 224

Meta Platforms, Inc. (NASDAQ:FB) is a communications technology company headquartered in Menlo Park, California, United States. It offers a host of services that allow consumers to stay in touch with each other and share their daily lives with family and friends. The company also sells gadgets such as virtual reality headsets.

Fisher Asset Management held 9.5 million Meta Platforms, Inc. (NASDAQ:FB) shares during Q4 2021. These were worth $3.2 billion and they represented 1.8% of its investment portfolio. During the same time period, 224 of the 924 hedge funds polled by Insider Monkey had also held a stake in the company.

Meta Platforms, Inc. (NASDAQ:FB) brought in $33 billion in revenue and $3.67 in GAAP EPS by the end of its fiscal fourth quarter, in a mixed bag of results that saw it beat analyst revenue estimates but miss them for EPS. UBS raised its share price target to $300 from $280 in April 2022, as it outlined that expected earnings weakness is already priced into the share price and that changes made by the company to its services will reap dividends next year.

Meta Platforms, Inc. (NASDAQ:FB)’s largest investor after Fisher Investments is Boykin Curry’s Eagle Capital Management. It owns 6.9 million shares that are worth $2.3 billion.

Boyar Value Group mentioned the company in its fourth quarter 2021 investor letter. Here is what the fund said:

“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).”