5 Best Growth Stocks To Buy According To Hedge Funds

2. Facebook, Inc. (NASDAQ:FB) 

Number of Hedge Fund Holders in Q2: 266  

Number of Hedge Fund Holders in Q1: 257 

Facebook, Inc. (NASDAQ:FB) is ranked second on our list of 11 best growth stocks to buy according to hedge funds. The firm operates as a technology company and is headquartered in California. 

On September 30, investment advisory RBC Capital initiated coverage of Facebook, Inc. (NASDAQ:FB) stock with an Outperform rating and a price target of $425, noting that the growth of the firm depended on its deepening relationship with over 3 billion users. 

At the end of the second quarter of 2021, 266 hedge funds in the database of Insider Monkey held stakes worth $42 billion in Facebook, Inc. (NASDAQ:FB), up from 257 in the preceding quarter worth $40 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Facebook, Inc. (NASDAQ:FB) was one of them. Here is what the fund said:

“We continued to keep our learnings from 2020 in mind during the quarter as we sought to increase the up capture of the portfolio. We also made adjustments to the portfolio’s top 10 holdings to increase the participation of select stocks, including Facebook, while trimming our weighting to stable names, which now represent 47% of the portfolio. Our repositioning has been encouraging so far with the portfolio performing better on up days in the market while maintaining good down capture during more turbulent sessions.”