Top 5 Stock Picks of Donald Sussman’s Paloma Partners

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

Paloma Partners Stake Value: $24,056,000
Percentage of Paloma Partners’ 13F Portfolio: 0.43%
Number of Hedge Fund Holders: 266

Meta Platforms, Inc. (NASDAQ:FB)’s Facebook platform has 2.91 billion monthly active users in the third quarter of 2021, providing advertisers with a mix of reach, relevance, social context, and engagement to boost the value of their advertising.

Hedge funds are loading up on Meta Platforms, Inc. (NASDAQ:FB), as Insider Monkey’s data shows that 266 hedge funds held a stake in the company as of the end of the second quarter of 2021, compared to 257 funds in the previous quarter. The stock returned 21.24% year to date.

On October 26, Truist analyst Youssef Squali reduced his price target on Facebook to $400 from $425 but maintained a “Buy” rating on the shares.

In the third quarter 2021 investor letter of Polen Capital, the fund mentioned Meta Platforms, Inc. (NASDAQ:FB), and discussed its opinion on the firm. Here is what the fund said:

“Facebook’s stock was pressured on concerns about regulation in the quarter. We are constantly monitoring the potential regulatory risks to Facebook (and all of our holdings). At this point, we see very little chance that regulation changes Facebook’s business model in a meaningful and adverse way. Regarding the recent data shared by a former Facebook employee and the company itself on some of the unfortunate negative consequences of social media, we recognize these types of issues will inevitably linger in different forms and fashions well into the future. We have been focused on the ability of

Facebook to identify and mitigate these negative consequences while amplifying the value users typically cite for its apps across a long list of use cases. We continuously monitor the vibrance of the user base on Facebook’s apps to confirm that value.”