5 Stocks Better than Zillow According to Hedge Funds

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

Number of Hedge Fund Holders: 266   

Meta Platforms, Inc. (NASDAQ:FB), formerly known as Facebook, is one of the largest technology companies in the world and manages three social media platforms with billions of users. It is also one of two tech firms, along with Alphabet, that have a monopoly on online advertising revenues. The company is valued at close to $1 trillion and posted more than $85 billion in revenue last year. 

Oppenheimer analyst Jason Helfstein has an Outperform rating on Meta Platforms, Inc. (NASDAQ:FB) stock with a price target of $405, noting that the advertising revenue of the firm seems durable in the face of rising competition. 

At the end of the second quarter of 2021, 266 hedge funds in the database of Insider Monkey held stakes worth $42 billion in Meta Platforms, Inc. (NASDAQ:FB), up from 257 in the preceding quarter worth $40 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, 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 Facebook, 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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