5 Stocks to Invest in Now According to Anthony Bozza’s Lakewood Capital

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

Lakewood Capital Management Stake Value: $152,889,000
Percentage of Lakewood Capital Management’s 13F Portfolio: 6.48%
Number of Hedge Fund Holders: 224

Meta Platforms, Inc. (NASDAQ:FB) is a social networking service and website that was founded in 2004 at Harvard University. Out of the hedge funds being tracked by Insider Monkey, Ken Fisher’s Fisher Asset Management is a leading shareholder of Meta Platforms, Inc. (NASDAQ:FB) with over 9.58 million shares worth more than $3.22 billion.

Meta Platforms, Inc. (NASDAQ:FB) was downgraded to ‘Hold’ from ‘Buy’ by China Renaissance analyst Ella Ji on February 4, who also lowered the firm’s price target on the stock to $280, down from $415. The analyst predicted a slower growth rate because of competition from TikTok and updates to iOS privacy.

Meta Platforms, Inc. (NASDAQ:FB) has featured in Lakewood Capital’s portfolio since the second quarter of 2018. In the fourth quarter of 2021, the hedge fund holds 454,553 shares of Meta Platforms, Inc. (NASDAQ:FB), amounting to more than $152.90 million in value and representing 6.48% of the fund’s portfolio assets.

Canterbury Tollgate mentioned Meta Platforms, Inc. (NASDAQ:FB) in its third quarter 2021 investor letter. Here is what the fund said:

“To say traditional media is anti-Facebook would not be an overstatement. An already intense and multi-year critique of (or attack on) Facebook has ratcheted up in recent weeks. Facebook’s research efforts have been reported on, if often derided, for nearly a decade. Going back to 2014, Slate.com called their research practices “unethical” when FB tried to study the impact social posts had on users. Now those efforts have been turned against them for the kill shot.

My job is to observe, assess, and allocate. Not to commentate on all the whims and wishes of media narrative. However, in the case of Facebook I cannot avoid going into some detail re: the onslaught against them, which I find to be most unwarranted and insincere.…” (Click here to see the full text).