Facebook Inc FB’s annual global developer conference (F8) is being held in San Francisco. Ahead of CEO Mark Zuckerberg's keynote, Pete Najarian appeared on CNBC talking about the stock’s valuation and the company’s asset allocation strategy. The expert recognized the stock’s valuation is quite high, at around 85 times the company’s earnings. However, “when you look at virtual reality, you look at Oculus, you look at some of the buys,” at the 50 companies that Facebook has acquired over the past few years, including WhatsApp and Instagram, what one can see is “they have spent their money wisely, and they are reaping those rewards." In a few months from now, the stock could be trading around $130 or $140, Najarian said. “Valuation is still a little bit high; but, you know what? They are feeding this animal,” he concluded.