5 Tech Stocks to Invest in Today According to John Armitage’s Egerton Capital

4. Facebook, Inc. (NASDAQ:FB)

Egerton Capital’s Stake Value: $854,930,000

Percentage of Egerton Capital’s 13F Portfolio: 4.24%

Number of Hedge Fund Holders: 266

Armitage’s Egerton Capital owns 2.45 million shares in Facebook, Inc. (NASDAQ:FB) as of the end of the second quarter, valued at $854.9 million, representing 4.24% of Armitage’s 13F portfolio. 

The stock is immensely popular with hedge funds. 266 funds in Insider Monkey’s database were long Facebook, Inc. (NASDAQ:FB) at the end of June, up from 257 in the previous quarter. 

On October 15, Mark Mahaney from Evercore ISI kept an Outperform rating on the stock, setting a price target of $450. However, he added Facebook, Inc. (NASDAQ:FB) to the “Tactical Underperform List” at Evercore ISI, due to tougher comps and the challenging online retail environment. 

Wedgewood Partners mentioned Facebook, Inc. (NASDAQ:FB) in its Q3 2021 investor letter. Here is what they said: 

“Facebook detracted from performance despite posting a staggering +56% growth in advertising revenues. Much of the stock’s underperformance was driven by non operating concerns that we view as mostly political in nature. The Company’s digital properties command a massive audience of over 2.7 billion daily users, so any government or state actor would be able to wield tremendous power by controlling that audience and it should not be a surprise when those actors attempt to do that. However, Facebook has invested  aggressively in its content curation capabilities that address many of the concerns raised by media and political critics. We continue to carry Facebook at our maximum weighting as the stock is trading in line with a market multiple despite unrivaled competitive positioning and rapid growth, representing one of the best risk-rewards available in the market.”