5 Best Stocks to Buy for Your Child

1. Facebook, Inc. (NASDAQ: FB)

Number of Hedge Fund Holders: 257

Topping the list of the 10 best stocks to buy for your child is Facebook, Inc. (NASDAQ: FB). The California-based tech firm operates and develops social media and instant messaging apps such as Facebook, Instagram, WhatsApp, and Messenger. As of March 2021, Facebook, Inc. recorded a 10% year-over-year increase on monthly active users totaling 2.85 billion. On top of maintaining his social media empire, Facebook, Inc. (NASDAQ: FB) founder and CEO Mark Zuckerberg is driving the next generation of technologies through his AI and augmented and virtual reality (AR/VR) investments. The company is also working on a platform and tools to assist the creator economy, including monetization opportunities for content creators.

The company has a market cap of $937 billion. The company’s revenue in the first quarter of 2021 increased 48% to $26.2 billion, up from $18 billion in the same period in 2020. Shares of FB jumped 43% over the past twelve months. On June 2, KGI Securities initiated coverage on Facebook, Inc. with an Outperform rating and a price target of $420 per share. FB stock currently trades at $336.58 per share. 

There were 257 hedge funds that reported owning stakes in Facebook, Inc. (NASDAQ: FB) at the end of the first quarter, up from 242 funds a quarter earlier. The total value of these stakes at the end of Q1 is $40.9 billion.

You can also take a peek at the 15 Biggest E-Commerce Companies in China and 10 Bankrupt Companies That Came Back.

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