Should I Consider Buying Meta Platforms (META) Stock?

RV Capital, an investment management firm, published its “Business Owners Fund” second quarter 2022 investor letter, a copy of which can be viewed here. The NAV of the Business Owner Fund was €600.80 as of June 30, 2022. The NAV decreased 40.2% from the start of the year and increased 505.5% from the start on September 30, 2008. compound annual growth rate since inception is 14.0%. Review the fund’s top 5 holdings to take a look at its best picks for 2022.

In its Q2 2022 investor letter, RV Capital mentioned Meta Platforms, Inc. (NASDAQ:GOAL) and explained his views for the company. Founded in 2004, Meta Platforms, Inc. (NASDAQ:META) is a Menlo Park, California-based multinational technology conglomerate with a market capitalization of $358.6 billion. Meta Platforms, Inc. (NASDAQ:META) returned -60.32% since the beginning of the year, while its 12-month return has decreased -59.57%. The stock closed at $133.45 per share on October 7, 2022.

Here’s what RV Capital has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q2 2022 Investor Letter:

Metaplatforms, until recently known as Facebook, is the single most frustrating investment I’ve ever made. From the initial investment in 2016, the company has been dogged by a constant stream of negative news. However, despite the doomsday prophecies, financial development has been excellent. At the time of our investment, I expected the company to earn EPS of $4.20. In the most recent year, it earned $13.77, so earnings are likely to dip temporarily in 2022. Taking a contrarian position in a company that subsequently has great financial growth is often a recipe for investment success. In Meta’s case, however, the share price has only modestly gained against our initial investment. Lots of pain, no gain.

This begs the question of whether I missed something. For much of the tenure period, he would answer “no.” Facebook’s critics see it as being responsible, at least in part, for most of what’s wrong with the world. Brexit, Trump’s election and mass shootings were generally accompanied by accusations about Facebook’s nefarious role…” (Click here for full text)

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Our calculations show that Meta Platforms, Inc. (NASDAQ:META) ranks fourth on our list of The 30 most popular stocks among hedge funds. Meta Platforms, Inc. (NASDAQ:META) was at 184 hedge fund portfolios at the end of the second quarter of 2022, compared to 200 funds in the previous quarter. Meta Platforms, Inc. (NASDAQ:META) returned -21.90% over the last 3 months.

In October 2022, we also share another hedge fund’s views on Meta Platforms, Inc. (NASDAQ:META) at another article. You can find other letters from hedge fund investors and prominent investors in our Hedge Fund Investor Letters 2022 Q2 page.

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Disclosure: none. This article was originally published on Insider Monkey.

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