1. Meta Platforms, Inc. (NASDAQ:FB)
Thunderbird Partners’ Stake Value: $145,679,000
Percentage of Thunderbird Partners’ 13F Portfolio: 17.45%
Number of Hedge Fund Holders: 248
Meta Platforms, Inc. (NASDAQ:FB), the parent company of Facebook, Instagram, and WhatsApp, is the largest holding in David Fear’s Thunderbird Partners’ Q3 portfolio. The fund owns 429,239 shares of Meta Platforms, Inc. (NASDAQ:FB), worth $145.6 million, representing 17.45% of the total Q3 investments.
On October 25, Meta Platforms, Inc. (NASDAQ:FB) reported its third quarter financial results, posting an EPS of $3.22, beating estimates by $0.04. Revenue over the period totaled $29.01 billion, up 35.12% from the prior-year quarter, but missed estimates by $513.23 million.
Loop Capital analyst Alan Gould on December 20 lowered the price target on Meta Platforms, Inc. (NASDAQ:FB) to $380 from $420 but kept a Buy rating on the shares. The magnitude of Meta Platforms, Inc. (NASDAQ:FB)’s spending on the Metaverse over the next several years and how rapidly the spending at Facebook Reality Labs will increase from the $10 billion being spent in 2021 will be a key focus for investors, according to the analyst.
Fisher Asset Management is one of the biggest Meta Platforms, Inc. (NASDAQ:FB) stakeholders, with 7.59 million shares worth $2.5 billion. Overall, 248 hedge funds in the third quarter database of Insider Monkey were long Meta Platforms, Inc. (NASDAQ:FB), down from 266 funds in the prior quarter.
Here is what ClearBridge Large Cap Growth Strategy has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter:
“While Amazon.com and Facebook, the Strategy’s overweights in the mega cap group, underperformed both their FAAMG peers and the benchmark in the third quarter, we maintain conviction in these names because they have the highest growth profiles. Amazon is projected to grow earnings per share at 19% next year and Facebook at 13%, while Apple is expected to see only breakeven earnings in 2022 (Exhibit 1). Facebook remains at the center of regulatory attention, although we believe that the worst-case scenario options are low-probability events and that the digital advertising market continues to be quite healthy. In a similar way, we prefer to play the secular growth trends in digital advertising through Facebook rather than Google and the rollout of 5G via Qualcomm instead of Apple. Facebook has multiple products that can continue to drive attractive revenue growth including direct e-commerce solutions, payments, AR/VR and monetizing WhatsApp. In addition, the Federal Trade Commission’s dismissal of the government’s antitrust case against Facebook (even though the case was subsequently re-filed) supports our view that antitrust action against the company will be difficult to achieve.”
You can also take a look at 10 Best Tech Stocks to Buy Now According to Nishkama Capital and 10 Best Stocks To Buy According to Billionaire Larry Robbins.
