5 Famous Tech Stocks Trading At Discount Today

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

Number of Hedge Fund Holders: 224

Decline in Share Price Over Past Six Months: 32.79%

Meta Platforms, Inc. (NASDAQ:FB) is a diversified technology firm. It has pivoted from a social media-based presence to a more multiverse-focused entity in recent months, even changing the brand name from Facebook to Meta. The change has not helped the firm stop a massive slide in the share price, although the worst seems to be over as investors realize the marketing potential that the billions of users on platforms like WhatsApp, Facebook, and Instagram offer to businesses. 

On March 25, UBS analyst Lloyd Walmsley kept a Buy rating on Meta Platforms, Inc. (NASDAQ:FB) stock with a price target of $280, highlighting that newsfeed changes from the firm would lead to higher monetization and a 6% upside in revenue in the first six months of 2022. 

At the end of the fourth quarter of 2021, 224 hedge funds in the database of Insider Monkey held stakes worth $3.1 billion in Meta Platforms, Inc. (NASDAQ:FB), compared to 248 in the preceding quarter worth $3.8 billion. 

In its Q4 2021 investor letter, Boyar Value Group, an asset management firm, highlighted a few stocks and Meta Platforms, 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 Meta Platforms, Inc. (NASDAQ:FB), 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.”

You can also take a peek at 10 Best Healthcare Dividend Stocks to Buy Now and 10 Dividend Stocks with Over 20 Years of Dividend Increases.

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