Tech Selloff: Hedge Funds are Dumping These 5 Stocks in 2022

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

Number of Hedge Fund Holders: 200

Decline in Hedge Fund Holders: 24

Meta Platforms, Inc. (NASDAQ:FB) is the parent company of Facebook, WhatsApp and Instagram. On May 16, Morgan Stanley analyst Brian Nowak gave an unchanged ‘Overweight’ rating to Meta Platforms, Inc. (NASDAQ:FB) shares, along with a price target of $330. He notes that the firm has significantly reduced its hiring and operating expenses per head, and this will result in cost discipline leading to significant free cash flow, and revenue acceleration in the second half of the year.

Out of all the hedge funds tracked by Insider Monkey, 200 reported bullish bets on Meta Platforms, Inc. (NASDAQ:FB) shares at the end of Q1 2022, with a collective price tag of $19.33 billion. This shows a negative trend from the previous quarter where 224 hedge funds owned $31.84 billion worth of positions in the tech giant.

You can also take a look at 10 Best Agriculture Stocks to Invest In and 15 Most Valuable IT Companies In The World.

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