5 Best Tech Stocks to Buy According to Man GLG

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

Man GLG’s Stake Value: $321,393,000

Percentage of Man GLG’s 13F Portfolio: 1.12%

Number of Hedge Fund Holders: 248

In a bid to promote competition and retain innovation in digital advertising, the United Kingdom’s Competition and Markets Authority has ordered Meta Platforms, Inc. (NASDAQ:FB) to sell the animated GIF platform, Giphy, as reported on November 30. Concerns have been raised that Meta Platforms, Inc. (NASDAQ:FB) owning Giphy will increase its already abundant market share, and the tech giant will restrict or limit Giphy’s access to competitors, creating an unfair power vacuum in the industry. 

Man GLG owns 946,971 shares in Meta Platforms, Inc. (NASDAQ:FB) as of September 2021, worth $321.3 million, representing 1.12% of the fund’s total investment portfolio. 

Ken Fisher’s Fisher Asset Management is one of the leading Meta Platforms, Inc. (NASDAQ:FB) stakeholders as of Q3, from a total of 248 hedge funds that were bullish on the company in the third quarter, holding collective stakes amounting to more than $38.5 billion in Meta Platforms, Inc. (NASDAQ:FB). 

Here is what Jefferies Group has to say about Meta Platforms, Inc. (NASDAQ:FB)  in its Q3 2021 investor letter:

“While still early, FB is in the process of building the platforms that will ultimately support the development of the Metaverse. We look at FB’s position through the lens of 4 current investment initiatives: 1) Oculus VR hardware, 2) Smart glasses, 3) Augmented Reality lenses, and 4) “Horizon Workrooms”

Oculus Virtual Reality hardware: Since acquiring Oculus in 2014 ($2B deal), FB has been focused on developing best-in-class hardware and complementary software & services to support VR experiences. The Oculus Quest 2 is FB’s newest VR headset; it retails at $299 and allows users to play games, try fitness classes, play sports, and watch concerts in virtual environments. Most importantly, Quest 2 is linked to users’ Facebook accounts, which means users can seamlessly connect with friends in virtual environments to play games or spend time together. We believe one of FB’s biggest differentiators in VR is its large array of non-gaming experiences that were designed for Oculus. For instance, users can explore extreme terrain in National Geographic Explore VR, join virtual fitness classes, or simulate being a chef. As FB’s hardware continues to improve and becomes less cumbersome, we would expect a flywheel of greater developer and user adoption of VR…” (Click here to see the full text)