Here’s Why You Should Remain Confident in Your Meta (FB) Position

Artisan Partners, an investment management firm, published its “Artisan Global Value Fund” second-quarter 2022 investor letter – a copy of which can be downloaded here. A return of -13.40% was recorded by its Investor Class: ARTGX, -13.32% by its Advisor Class: APDGX, and -13.33% by its Institutional Class: APHGX, in the second quarter of 2022, outperforming its MSCI All Country World benchmark that delivered a -15.66% return in the same period. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Artisan Global Value Fund mentioned Meta Platforms, Inc. (NASDAQ:FB) and explained its insights for the company. Founded in 2004, Meta Platforms, Inc. (NASDAQ:FB) is a Menlo Park, California-based multinational technology conglomerate with a $434.9 billion market capitalization. Meta Platforms, Inc. (NASDAQ:FB) delivered a -52.22% return since the beginning of the year, while its 12-month returns are down by -55.15%. The stock closed at $160.72 per share on July 28, 2022. 

Here is what Artisan Global Value Fund has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q2 2022 investor letter:

Meta declined 27% during the quarter. Investors are anticipating a recessionary downdraft and a subsequent decline in advertising activity. For Meta, this comes on top of multiple other factors that
were already pressuring its business, including Apple’s new privacy standards, new regulatory rules, competitive issues and rising costs— issues we outlined in detail last quarter. While these factors will
pressure profits this year, we continue to believe this is a fundamentally attractive business with a unique collection of massively scaled media assets. We also continue to believe in the stewardship of Mark Zuckerberg, who recently signaled the willingness to implement cost discipline to help protect profitability. Meta shares trade at ~10X cash-adjusted earnings, which we believe to be a great price for a company that should grow over time.”


Photo by Alexander Shatov on Unsplash

Our calculations show that Meta Platforms, Inc. (NASDAQ:FB) ranks 4th on our list of the 30 Most Popular Stocks Among Hedge Funds. Meta Platforms, Inc. (NASDAQ:FB) was in 200 hedge fund portfolios at the end of the second quarter of 2022, compared to 224 funds in the previous quarter. Meta Platforms, Inc. (NASDAQ:FB) delivered a -21.88% return in the past 3 months.

In July 2022, we published an article that includes Meta Platforms, Inc. (NASDAQ:FB) in 10 Stocks Billionaire Tiger Cub Rob Citrone is Buying. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.