Obama Stock Portfolio: 5 Stocks to Consider

2. Facebook, Inc. (NASDAQ:FB

Number of Hedge Fund Holders: 266  

There have been numerous reports that Facebook, Inc. (NASDAQ:FB), one of the biggest firms in the world, plans to change its name to distance the social media aspect of the business from other projects it is pursuing. Mark Zuckerberg, the founder of the firm, is presently holding discussions over the rebranding which could happen as early as this month. 

Evercore ISI analyst Mark Mahaney has an Outperform rating on Facebook, Inc. (NASDAQ:FB) stock with a price target of $450. The analyst believes that there is some reason to be cautious over the stock amid tough competition in the months ahead. 

At the end of the second quarter of 2021, 266 hedge funds in the database of Insider Monkey held stakes worth $42 billion in Facebook, Inc. (NASDAQ:FB), up from 257 in the preceding quarter worth $40 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Facebook, Inc. (NASDAQ:FB) was one of them. Here is what the fund said:

“We continued to keep our learnings from 2020 in mind during the quarter as we sought to increase the up capture of the portfolio. We also made adjustments to the portfolio’s top 10 holdings to increase the participation of select stocks, including Facebook, while trimming our weighting to stable names, which now represent 47% of the portfolio. Our repositioning has been encouraging so far with the portfolio performing better on up days in the market while maintaining good down capture during more turbulent sessions.”