Is it Still Worthy to Invest in Meta Platforms (FB)?

Harding Loevner, an investment management firm, published its “Global Equity Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. The Global Equity Composite fell 12.4% gross of fees, well beyond the 5.3% decline of the MSCI All Country World Index. The portfolio’s concentration in expensive stocks, a hazard of its commitment to investing in the stocks of high-quality rapidly growing businesses, hurt relative performance in a quarter during which investors fled from richly priced companies. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Harding Loevner Global Equity 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 $443.1 billion market capitalization. Meta Platforms, Inc. (NASDAQ:FB) delivered a -53.31% return since the beginning of the year, while its 12-month returns are down by -52.74%. The stock closed at $157.05 per share on June 21, 2022.

Here is what Harding Loevner Global Equity Fund has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q1 2022 investor letter:

“We hold a similar view on other companies that hurt us this quarter: most of the specific blemishes that marred their shares are likely to be transient; the companies’ long-term prospects remain bright while the sell-off has left their shares more attractively priced. With Meta (Facebook), we think it is only a matter of time before the company’s heavy investments in proprietary ad targeting tools and the next generation of web experiences launch the next growth phase.”


Photo by Alexander Shatov on Unsplash

Our calculations show that Meta Platforms, Inc. (NASDAQ:FB) fell short and didn’t make it 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 first quarter of 2022, compared to 224 funds in the previous quarter. Meta Platforms, Inc. (NASDAQ:FB) delivered a -25.74% return in the past 3 months.

In February 2022, we published an article that includes Meta Platforms, Inc. (NASDAQ:FB) in 5 Best Metaverse ETFs To Buy. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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