Billionaire Israel Englander is Buying These 5 Stocks

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

Number of Hedge Fund Holders: 248
Millennium Management’s Stake Value: $936,649,000

Recently, Morgan Stanley listed Meta Platforms, Inc. (NASDAQ:FB) as one of the companies that could benefit from the advertisement segment in 2022. The stock is up 21.01% for 2021, as of the close of December 20.

As per Insider Monkey’s Q3 data, 248 hedge funds held stakes in Meta Platforms, Inc. (NASDAQ:FB), down from 266 in the previous quarter. The total value of these stakes is over $38.5 billion.

In Q3, Millennium Management increased its position in Meta Platforms, Inc. (NASDAQ:FB) by 103%. The hedge fund now holds more than 2.7 million shares in the company, valued at $936.6 million. Meta Platforms, Inc. (NASDAQ:FB) represented 0.56% of Israel Englander’s portfolio. Recently, UBS assumed its coverage on the stock with a Buy rating and a $425 price target.

Canterbury Tollgate mentioned Meta Platforms, Inc. (NASDAQ:FB) in its recently published Q3 2021 investor letter. Here is what the firm has to say:

“To say traditional media is anti-Facebook would not be an overstatement. An already intense and multi-year critique of (or attack on) Facebook has ratcheted up in recent weeks. Facebook’s research efforts have been reported on, if often derided, for nearly a decade. Going back to 2014, Slate.com called their research practices “unethical” when FB tried to study the impact social posts had on users. Now those efforts have been turned against them for the kill shot.

My job is to observe, assess, and allocate. Not to commentate on all the whims and wishes of media narrative. However, in the case of Facebook I cannot avoid going into some detail re: the onslaught against them, which I find to be most unwarranted and insincere.

Last month the Wall Street Journal ran a five-piece series titled “The Facebook Files” which allegedly shows how toxic Instagram is for teens. The foundation of their argument was a single slide from an internal presentation claiming, based on FB’s own research, that of teens who had a negative self-image, one-third said Instagram “made them feel worse.”iii Somehow the implication here is that this is not an inescapable aspect of either the human psyche and/or society-atlarge, but that it is of Facebook’s doing…” (Click here to see the full text)