5 Best Undervalued Stocks to Buy Now According to Billionaire DE Shaw

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1. Meta Platforms Inc. (NASDAQ:FB)

D.E. Shaw’s Stake Value: $568.2M

Percentage of  D.E. Shaw’s 13F Portfolio: 0.66%

Number of Hedge Fund Holdings: 184

PE Ratio (TTM): 13.94

Headquartered in Menlo Park, California, Meta Platforms Inc. (NASDAQ:FB) is an American multinational technology conglomerate. In 2021, the company generated 97.5% of its revenue from the sale of advertising and as of September 2022, it is one of the most valuable companies in the world.

As of September 11, Meta Platforms Inc. (NASDAQ:FB) had declined 50.3% year-to-date. Hedge fund sentiment around the company has also declined drastically, with 184 funds reporting a cumulative stake of $18.2 billion in Q2 2022. This is down from 200 hedge funds having a stake of $19.3 billion in Q1 2022. D.E. Shaw owns more than 3.5 million shares which are valued at $568.2 million.

Baron Funds, an asset management firm, mentioned Meta Platforms Inc. (NASDAQ:FB)  in their Q2 2022 investor letter. This is what they had to say:

“Shares of Meta Platforms, Inc., 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.”

You can also take a peek at 10 Best Vanguard Stocks to Buy Now and 15 Best Security Stocks to Buy Now.

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