Sun Sep 15 12:52:46 UTC 2024: ## Biltmore Family Office Boosts Meta Platforms Stake Amid Positive Analyst Sentiment

**New York, NY – September 15, 2024** – Biltmore Family Office LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the second quarter, according to the fund’s latest Form 13F filing with the SEC. The move comes as several other hedge funds have also been adjusting their positions in the social media giant, reflecting a positive sentiment among investors.

Biltmore Family Office now owns 2,945 shares of Meta Platforms, valued at $1,485,000. Other notable transactions include Delos Wealth Advisors LLC, which boosted its position by 527.3%, and Ruedi Wealth Management Inc., which increased its stake by 122.2% during the second quarter.

Meanwhile, insider transactions have been mixed. Jennifer Newstead, a Meta Platforms insider, sold 905 shares on September 10th, while CEO Mark Zuckerberg sold 2,054 shares in June.

The recent increase in Meta’s stock price has been fueled by strong second-quarter earnings, which exceeded analysts’ expectations. The company reported earnings per share of $5.16, topping the consensus estimate of $4.70, and revenue of $39.07 billion, surpassing estimates of $38.26 billion.

Meta Platforms’ positive outlook has also been bolstered by a wave of bullish analyst ratings. Citigroup, Rosenblatt Securities, Roth Mkm, DA Davidson, and The Goldman Sachs Group have all raised their price targets on Meta Platforms shares, with most analysts maintaining a “buy” rating.

Despite some insider selling, the overall positive sentiment surrounding Meta Platforms remains strong, as reflected in the recent stock price gains and the increasing interest from institutional investors and hedge funds.

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