Is Facebook Inc (FB) A Good Stock To Buy Right Now?

According to hedge fund experts at Insider Monkey, Stephen Mandel’s Lone Pine Capital had the number one position in Facebook Inc (NASDAQ:FB), worth close to $666.5 million, accounting for 2.5% of its total 13F portfolio. Coming in second is Coatue Management, led by Philippe Laffont, holding a $650.2 million position; the fund has 6.2% of its 13F portfolio invested in the stock. Other hedgies that are bullish comprise D. E. Shaw’s D E Shaw, Israel Englander’s Millennium Management and Phill Gross and Robert Atchinson’s Adage Capital Management.

There were several hedge funds that established brand new positions. Renaissance Technologies, founded by Jim Simons, established the biggest new position in Facebook Inc (NASDAQ:FB). Renaissance Technologies had $217.6 million invested in the company at the end of the quarter. Robert Pohly’s Samlyn Capital also made a $74.5 million investment in the stock during the quarter. The following funds were also among the new FB investors: Alex Sacerdote’s Whale Rock Capital Management, Rob Citrone’s Discovery Capital Management, and Glen Kacher’s Light Street Capital.

Renaissance Technologies is one of the top performing hedge funds when it comes to large-cap stock picks (their picks in recent years performed even better than Warren Buffett’s picks). Is Facebook Inc (FB) a good stock to buy right now? Smart money indicators say yes.