5 Favorite Stocks of Cathie Wood and Ken Fisher

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

Ken Fisher’s Stake Value: $2,576,200,000

Cathie Wood’s Stake Value: $71,300,000

Number of Hedge Fund Holders: 248

Mark Zuckerberg’s Meta Platforms, Inc. (NASDAQ:FB) is one of the most sought after stocks by hedge funds in the third quarter, with Ken Fisher and Cathie Wood holding significant stakes in the company, respectively valued at $2.57 billion and $71.3 million. Overall, 248 hedge funds were long Meta Platforms, Inc. (NASDAQ:FB) in Q3 2021, with total stakes amounting to $38.5 billion. Boykin Curry’s Eagle Capital Management is one of the largest Meta Platforms, Inc. (NASDAQ:FB) stakeholders, with a $2.44 billion position in the company. 

Meta Platforms, Inc. (NASDAQ:FB) posted its Q3 results on October 25. EPS in the period came in at $3.22, exceeding estimates by $0.04. The $29.01 billion revenue was up 35.12% year-over-year, but missed estimates by $513.23 million. 

HSBC analyst Nicolas Cote-Colisson on December 6 upgraded Meta Platforms, Inc. (NASDAQ:FB) to Hold from Reduce with an unchanged price target of $300. The analyst noted that Meta Platforms, Inc. (NASDAQ:FB) shares are under pressure after a “regulatory setback” despite the rising interest in metaverse. He believes that after the stock dipped 19% since the September 7 peak, the new price target accurately reflects the risks associated with the company. 

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)

You can also take a look at 10 Stocks in Focus After Posting Their Financial Results and 10 Reddit Stocks that Tripled in 2021. 

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