Sun Sep 15 12:52:47 UTC 2024: ## Meta Platforms Sees Mixed Signals from Investors: AdvisorShares Cuts Stake, Others Increase Holdings
**New York, September 15, 2024** – Investor sentiment towards Meta Platforms (META) remains mixed, with some institutional investors trimming their stakes while others are increasing their holdings, according to recent filings.
AdvisorShares Investments LLC, a prominent institutional investor, decreased its position in Meta by 5.2% during the second quarter, selling off 52 shares, bringing its total ownership to 948 shares worth approximately $478,000.
However, several other institutional investors took a different approach, increasing their positions in the social media giant. Greenwood Gearhart Inc. grew its holdings by 0.8%, now owning 25,600 shares worth $12,908,000. Similarly, Biltmore Family Office LLC expanded its stake by 1.8%, bringing its total ownership to 2,945 shares valued at $1,485,000. AGF Management Ltd. significantly boosted its holdings by 20.7%, now possessing 9,503 shares worth $4,792,000. South Street Advisors LLC saw the most substantial increase, growing its stake by a whopping 74.5%, bringing its ownership to 28,967 shares valued at $14,606,000. Finally, Angeles Wealth Management LLC increased its stake by 15.5%, owning 8,195 shares worth $4,132,000.
In other news, insider Jennifer Newstead, a Meta executive, sold 901 shares on August 5th at an average price of $451.15, generating a total value of $406,486.15. Following the transaction, Newstead holds 33,324 shares worth approximately $15,034,122.60.
Meanwhile, CFO Susan J. Li sold 8,950 shares on August 15th at an average price of $526.76, for a total value of $4,714,502.00. This sale leaves Li with 74,579 shares valued at approximately $39,285,234.04.
Overall, insider transactions in the last 90 days have seen a total of 357,574 shares sold, amounting to a total value of $185,587,773. Corporate insiders currently hold 13.71% of the company’s stock.
Meta Platforms stock opened at $524.62 on Friday, with a 50-day moving average of $505.13 and a 200-day moving average of $495.43. The company boasts a market cap of $1.33 trillion and a price-to-earnings ratio of 30.13.
Meta Platforms reported strong second-quarter earnings, exceeding analyst expectations with EPS of $5.16 and revenue of $39.07 billion. The company also announced a quarterly dividend of $0.50, payable on September 26th to shareholders of record on September 16th.
The mixed signals from investors and insider selling activity will be closely watched as the market continues to assess Meta Platforms’ future prospects.
First Piper 