5 Best Big Tech Stocks to Buy Right Now

2. Facebook, Inc. (NASDAQ:FB)

Number of  Hedge Fund Holders: 266

Facebook, Inc. (NASDAQ: FB) is one of the largest and most popular social media platforms in the world. It is at the forefront of demonstrating the power of modern day technology to connect populations spread over thousands of miles all over the globe, as it enables people to connect with each other, businesses to market their products and governments to stay in touch with their populations.

Data surveyed by Insider Monkey reveals that as of the start of the second half of this year, 266 out of 873 hedge funds held a stake in Facebook, Inc (NASDAQ: FB) with a total value of $42.3 billion.

In the Q2 2021 investor letter of First Eagle Investment Management, the fund mentioned Facebook, Inc. (NASDAQ: FB). Here is what the fund said:

“Leading contributors in the First Eagle Global Fund this quarter included Facebook, Inc. Class A. Facebook has continued to post impressive results for both revenue and active users of its traditional platforms. In the meantime, the social media giant continues to make progress on new initiatives—like Facebook Horizon (virtual reality) and Facebook Shops (e-commerce)—and maintains attractive monetization optionality around services like Messenger and WhatsApp.”