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As Zuckerberg heads to the Hill, here's what one Facebook shareholder is watching

Key Points
  • Stephanie Link, managing director at Nuveen, which has $970 billion in assets under management, says she's looking to add to her Facebook position on any pullback.
  • "I don't think Facebook, or Instagram, will lose their dominance at all," she said on Tuesday's "Halftime Report."
  • Last month shares of the social-media giant fell 12%, for Facebook's worst month in 4 years.

As Facebook CEO Mark Zuckerberg heads to the Hill for his two-day testimony in front of Congress, one Facebook shareholder will be closely watching the stock for a buying opportunity.

Trading Facebook as Zuckerberg

Stephanie Link, Managing Director at Nuveen, which has $970 billion in assets under management, already owns Facebook and she's looking to buy more if the stock falls in reaction to Zuckerberg's questioning.

Link believes the negative headlines following the Cambridge Analytica data scandal won't have a meaningful impact on the company's top line, and she thinks the company's recent multiple compression makes it an attractive buy at current levels. Today the stock trades at 22.2X forward earnings, compared to 30.5X at the beginning of the year.

Facebook CEO Mark Zuckerberg (2 L) arrives at a meeting with U.S. Sen. Bill Nelson (D-FL), ranking member of the Senate Committee on Commerce, Science, and Transportation, April 9, 2018 on Capitol Hill in Washington, DC.
Former exec says Facebook's not arrogant, even if its actions 'look a little bit like arrogance'

Facebook is down more than 12% since news of the Cambridge Analytica data scandal broke on March 16, and last month was the social media giant's worst in four years.

But Link believes the stock is still a winning bet for the long-term.

"I don't think that Facebook or Instagram will lose their dominance at all. Not at all...the multiple has gotten compressed, but I don't think you're going to see compression from here...it might be dead for a little while, but I think you have a bargain for a long-term secular growth story -- at least 25% growth -- with margins of at least 40%."

Facebook is up 15.5% over the past year, and has a $470 billion market cap.

One hundred cardboard cutouts of Facebook founder and CEO Mark Zuckerberg stand outside the US Capitol in Washington, DC, April 10, 2018.
Hedge funds increased their bets against Facebook before Zuckerberg testimony

Trader disclosure: Stephanie Link owns Facebook.