Is it Still Worthy to Own Meta Platforms (FB) Shares?

Boyar Value Group, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be seen here. The Boyar Value Group seeks long-term capital appreciation, which it pursues by investing primarily in equity securities of companies that are believed by the Fund’s investment adviser to be intrinsically undervalued. In the fund’s view, one of the dangers to sustained recovery is cash hoarding, considering that the U.S. economy is largely consumer-driven. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Boyar Value Group, in its Q4 2021 investor letter, mentioned Meta Platforms, Inc. (NASDAQ:FB) and discussed its stance on the firm. Founded in 2004, Meta Platforms, Inc. (NASDAQ:FB) is a Menlo Park, California-based multinational technology conglomerate holding company with a $620.4 billion market capitalization, and is currently spearheaded by its CEO, Mark Zuckerberg. Meta Platforms, Inc. (NASDAQ:FB) delivered a -32.24% return since the beginning of the year, while its 12-month returns are down by -20.87%. The stock closed at $15.74 per share on March 28, 2022.

Here is what Boyar Value Group has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q4 2021 investor letter:

“Corporate executives can have many different reasons for selling shares (anticipation of tax law changes, philanthropy, diversification, and much more), but the sheer number of billionaire founders who sold shares in 2021 should raise eyebrows and might well be signaling a market top. Bloomberg’s Ben Steverman and Scott Carpenter report not only that Mark Zuckerberg of Meta Platforms Inc. (formerly known as Facebook) sold shares in his company almost every day last year but also that the founders of Google sold ~$3.5 billion worth of stock (the first time either Sergey Brin or Larry Page has sold shares since 2017).”

Photo by Joshua Hoehne on Unsplash

Our calculations show that Meta Platforms, Inc. (NASDAQ:FB) ranks 3rd on our list of the 30 Most Popular Stocks Among Hedge Funds. Meta Platforms, Inc. (NASDAQ:FB) was in 224 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 248 funds in the previous quarter. Meta Platforms, Inc. (NASDAQ:FB) delivered a -34.17% return in the past 3 months.

In March 2022, we also shared another hedge fund’s views on Meta Platforms, Inc. (NASDAQ:FB) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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