Sun Sep 15 14:54:57 UTC 2024: ## Jupiter Asset Management Cuts Meta Platforms Stake, Other Investors Adjust Positions

**New York, NY (September 15, 2024) -** Jupiter Asset Management Ltd. reduced its stake in Meta Platforms, Inc. (META) by 38.2% in the second quarter, according to HoldingsChannel.com. The firm now holds 188,399 shares of the social networking company, valued at $94,995,000. This represents 0.9% of Jupiter’s portfolio, making Meta Platforms its 17th largest holding.

Meanwhile, other large investors made adjustments to their Meta Platforms holdings. Baird Financial Group Inc. increased its position by 24.2% in the fourth quarter, while California State Teachers Retirement System boosted its stake by 1.5% during the same period. Voyager Global Management LP and Gradient Investments LLC also increased their holdings in the fourth and second quarters, respectively.

Baillie Gifford & Co. saw a 14.0% increase in its Meta Platforms stake during the first quarter, bringing their total holdings to 6,101,501 shares, valued at $2,962,767,000. Institutional investors now own 79.91% of Meta Platforms’ stock.

In recent insider transactions, COO Javier Olivan sold 413 shares of META on August 23rd, while insider Jennifer Newstead sold 901 shares on August 5th.

**Meta Platforms recently reported strong second-quarter earnings, exceeding analyst expectations.** The company reported earnings per share of $5.16, surpassing the consensus estimate of $4.70. Revenue for the quarter reached $39.07 billion, beating expectations of $38.26 billion. The company also announced a quarterly dividend of $0.50 per share, payable on September 26th.

**Meta Platforms opened at $524.62 on Friday, with a 12-month low of $279.40 and a 12-month high of $544.23.** The company’s market cap is $1.33 trillion.

**This article summarizes information from a press release published by MarketBeat News. For further details and analysis, please refer to the original source.**

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