Top 5 Stock Picks of Gordon Malin’s Mountain Road Advisors

4. Meta Platforms, Inc. (NASDAQ:FB)

Mountain Road Advisors Stake Value: $38,774,000
Percentage of Mountain Road Advisors’ 13F Portfolio: 7.57%
Number of Hedge Fund Holders: 266

Facebook was also in the limelight after changing its name to Meta Platforms, Inc. (NASDAQ:FB). The company reported EPS of $3.22 vs the average expectation of $3.19 for the third quarter. Sales for the quarter totaled $29.01 billion, compared to a consensus estimate of $29.58 billion.

On October 26, Truist analyst Youssef Squali lowered his price target on Meta Platforms, Inc. to $400 from $425 but kept a “Buy” rating on the shares post its third-quarter results. According to the analyst, the company’s size demonstrates durability in the face of industry issues. In addition, the continued headwinds from Apple’s (AAPL) iOS updates, making ad targeting and measurement more difficult, are likely to be temporary rather than structural.

Mountain Road Advisors raised its position in Meta Platforms, Inc. by 4% to 111,513 shares in the second quarter, accounting for 7.57% of the overall portfolio.

In its third-quarter 2021 investor letter, Polen Capital mentioned Meta Platforms, Inc. (NASDAQ:FB). Here is what the fund said:

“Facebook’s stock was pressured on concerns about regulation in the quarter. We are constantly monitoring the potential regulatory risks to Facebook (and all of our holdings). At this point, we see very little chance that regulation changes Facebook’s business model in a meaningful and adverse way. Regarding the recent data shared by a former Facebook employee and the company itself on some of the unfortunate negative consequences of social media, we recognize these types of issues will inevitably linger in different forms and fashions well into the future. We have been focused on the ability of

Facebook to identify and mitigate these negative consequences while amplifying the value users typically cite for its apps across a long list of use cases. We continuously monitor the vibrance of the user base on Facebook’s apps to confirm that value.”