5 Tech Stocks to Buy Before Market Rally Begins

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

Number of Hedge Fund Holders: 200    

Meta Platforms, Inc. (NASDAQ:META) is a tech firm that owns and runs social media platforms. The company has transitioned from a focus on social media towards the metaverse in recent months, and Mark Zuckerberg, the founder of the firm, claims that it is now in a competition with Apple, the largest tech-giant, for relevance in the space. As part of an investment push into the metaverse, the company is considering its first ever bonds sale and a new capital spending structure. Ad-revenues are also slowly recovering after being hammered in the first half of 2022.

On July 28, MKM Partners analyst Rohit Kulkarni maintained a Buy rating on Meta Platforms, Inc. (NASDAQ:META) stock and lowered the price target to $240 from $295, noting that there was an ad environment slowdown from economic pressures for the firm. 

At the end of the first quarter of 2022, 224 hedge funds in the database of Insider Monkey held stakes worth $19 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 248 in the preceding quarter worth $31 billion. 

In its Q4 2021 investor letter, Boyar Value Group, an asset management firm, highlighted a few stocks and Meta Platforms, Inc. (NASDAQ:META) was one of them. Here is what the fund said:

“Corporate executives can have many different reasons for selling shares (anticipation of tax law changes, philanthropy, diversification, and much more), but the sheer number of billionaire founders who sold shares in 2021 should raise eyebrows and might well be signaling a market top. Bloomberg’s Ben Steverman and Scott Carpenter report not only that Mark Zuckerberg of Meta Platforms, Inc. (NASDAQ:META) (formerly known as Facebook) sold shares in his company almost every day last year but also that the founders of Google sold ~$3.5 billion worth of stock (the first time either Sergey Brin or Larry Page has sold shares since 2017).” 

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