5 Stocks US Congressmen Are Selling

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

Number of Hedge Fund Holders: 224

Ro Khanna is an American Democrat who serves as the U.S. representative from California’s 17th congressional district. Securities disclosures dated March 3 revealed that Khanna sold shares of Meta Platforms, Inc. (NASDAQ:FB) worth between $15,001 and $50,000. The transaction took place on February 18. 

Meta Platforms, Inc. (NASDAQ:FB)’s Q4 results were published on February 2, and the company reported earnings per share of $3.67, missing estimates by $0.15. The $33.67 billion revenue outperformed market consensus by $230.60 million. 

On March 10, Deutsche Bank analyst Benjamin Black initiated coverage of Meta Platforms, Inc. (NASDAQ:FB) with a Buy rating and a $265 price target. The analyst contended that problems related to ESG and the fallout of IDFA are manageable, and that such concerns are factored in at current share levels. This makes the risk/reward profile for the company largely favorable.

According to Insider Monkey’s Q4 data, 224 hedge funds held long positions in Meta Platforms, Inc. (NASDAQ:FB), down from 248 funds in the prior quarter. Eagle Capital Management held a notable stake in the company, with almost 7 million shares worth $2.3 billion. 

Here is what Davis New York Venture Fund has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q4 2021 investor letter:

“Within the traditional growth category, growing euphoria has led to bubble prices for many companies, most especially those with new and unproven business models such as those discussed above. In contrast, our research focuses on a select handful of proven growth stalwarts whose shares still trade at reasonable valuations. For example, because of concerns about future litigation and regulation, several dominant internet businesses, including Meta (formerly Facebook), trade at steep discounts to many unproven and unprofitable growth darlings that, in our view, trade at euphoric prices. While we expect a continued barrage of negative headlines around the company, as well as increased regulation in the years ahead, we do not expect a significant decline in its long-term profitability.”