5 Best Kid-Friendly Stocks to Buy Now

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

Number of Hedge Fund Holders: 184    

Meta Platforms Inc. (NASDAQ:META) develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It is one of the elite kid-friendly stocks to invest in 2022. On October 31, Facebook, a subsidiary of Meta Platforms, announced that it is opening up access to all creators globally to provide more options to help creators build their presence. The first Professional Mode by Facebook was launched in December 2021.

On October 27, RBC Capital analyst Brad Erickson maintained an Outperform rating on Meta Platforms, Inc. (NASDAQ:META) stock and lowered the price target to $150 from $190, noting that the company’s significantly higher expense outlook far outweighed the better-than-feared top-line report and guide.  

At the end of the second quarter of 2022, 184 hedge funds in the database of Insider Monkey held stakes worth $18.2 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 200 in the preceding quarter worth $19.3 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Meta Platforms, Inc. (NASDAQ:META) was one of them. Here is what the fund said:

“Shares of Meta Platforms, Inc. (NASDAQ:META), the owner of Facebook, the world’s largest social network, fell 28.4% during the second quarter due to quarterly results that missed consensus estimates, driven by the impact of Apple’s new privacy changes in its iOS operating system. These changes have made it harder for Facebook to measure the effectiveness of its advertising across its mobile apps.

In the longer term, we expect Facebook to continue utilizing its leadership in mobile to provide global advertisers targeted marketing capabilities at scale, with substantial monetization optionality ahead in newer areas such as Reels (Meta’s competing solution to TikTok) and e-commerce.”