5 Most Active Stocks to Buy Now

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

Number of Hedge Fund Holders: 184    

Volume as of November 14: 59.83 million

Meta Platforms Inc. (NASDAQ:META) develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It is one of the most active stocks to buy now. On November 2, the CEO of Instagram, a subsidiary of Meta Platforms, made it clear that the iPad app is not a big priority for the company. On October 31, Instagram disclosed that it has fixed the bug which caused thousands of users to sign out from the app.

On October 27, MKM Partners analyst Rohit Kulkarni maintained a Buy rating on Meta Platforms, Inc. (NASDAQ:META) stock and lowered the price target to $140 from $195, noting that the company reported a surprising upside in Q3 revenue, with healthy growth in engagement and active users.  

At the end of the second quarter of 2022, 184 hedge funds in the database of Insider Monkey held stakes worth $18.2 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 200 in the preceding quarter worth $19.3 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Meta Platforms, Inc. (NASDAQ:META) was one of them. Here is what the fund said:

“Shares of Meta Platforms, Inc., the owner of Facebook, the world’s largest social network, fell 28.4% during the second quarter due to quarterly results that missed consensus estimates, driven by the impact of Apple’s new privacy changes in its iOS operating system. These changes have made it harder for Facebook to measure the effectiveness of its advertising across its mobile apps.

In the longer term, we expect Facebook to continue utilizing its leadership in mobile to provide global advertisers targeted marketing capabilities at scale, with substantial monetization optionality ahead in newer areas such as Reels (Meta’s competing solution to TikTok) and e-commerce.”