BBBY Bull Ken Griffin’s 5 Favorite Stock Picks

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

Number of Hedge Fund Holders: 184    

Meta Platforms, Inc. (NASDAQ:META) is a tech firm that owns and runs social media platforms. Securities filings show that Citadel owned over 4.5 million shares of Meta Platforms, Inc. (NASDAQ:META) at the end of the second quarter of 2022 worth $738 million, representing 0.18% of the portfolio. 

On July 28, RBC Capital analyst Brad Erickson maintained an Outperform rating on Meta Platforms, Inc. (NASDAQ:META) stock and lowered the price target to $190 from $200, noting that the Q2 results were in line with expectations but third quarter guidance below estimates.

At the end of the second quarter of 2022, 184 hedge funds in the database of Insider Monkey held stakes worth $18 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 200 in the preceding quarter worth $19 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).”

You can also take a peek at 13 Best Hemp Stocks to Buy Now and Billionaire Dan Loeb’s Top 10 Stock Picks.

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