Starter Stock Portfolio: 5 Safe Stocks To Invest In Now

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 242

Meta Platforms, Inc. (NASDAQ:META) is a big tech company operating various social media platforms, such as Facebook, and offering augmented and virtual reality-related products. It is based in Menlo Park, California.

In the fourth quarter, 242 hedge funds were long Meta Platforms, Inc. (NASDAQ:META), with a total stake value of $44.2 billion.

A Buy rating and $500 price target were reiterated on Meta Platforms, Inc. (NASDAQ:META) on March 18 by Roth MKM analysts.

Ruane, Cunniff & Goldfarb mentioned Meta Platforms, Inc. (NASDAQ:META) in its fourth-quarter 2023 investor letter:

“Two additional trims, in Meta Platforms, Inc. (NASDAQ:META) and Carmax, were more substantive in nature. When Meta’s stock declined in 2022, we judged it to be significantly mispriced and held our ground through the bottom. We trimmed the position serially last year as the stock soared because we were wary of holding a large position exposed to significant regulatory risks, particularly in Europe. We are comfortable owning Meta at today’s much-reduced weighting and current valuation. The smaller position size reflects our updated assessment of the balance of long-term risk versus reward.”