5 Stocks That Will Go Up 1000 Percent

2. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 220

The speed with which Meta Platforms, Inc. (NASDAQ:META) is innovating and expanding into new areas is mind boggling. Meta Platforms, Inc. (NASDAQ:META) can post slow but steady gains for investors over the next decade. Meta Platforms, Inc. (NASDAQ:META)’s investments in AI, VR, new social media platforms and its dominance in the industry could bear fruit in the future.

As of the end of the first quarter of 2023, 220 hedge funds tracked by Insider Monkey had stakes in Meta Platforms, Inc. (NASDAQ:META). The biggest stakeholder of Meta Platforms, Inc. (NASDAQ:META) during this period was Philippe Laffont’s Coatue Management which owns a $1.71 billion stake in the company.

ClearBridge Large Cap Value Strategy made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its first quarter 2023 investor letter:

“The standout contributor for the quarter was Meta Platforms, Inc. (NASDAQ:META), which we bought in the fourth quarter of 2022. We still feel good about Meta shares after the rally, with positive drivers that we found attractive in late 2022 — large scale advantages in driving user engagement, the ability to invest in tools to monetize its audience, cost discipline and a strong balance sheet — still in play.”