- Cathie Wood’s Ark funds sold 22,116 Meta (META) shares between March 17 and March 20 for about $16 million, her first Meta sale in nearly a year, as per Bloomberg.
- Meta’s stock, down 16% from its February 14 peak due to tariff-related market concerns, still outperformed with Q4 earnings of $8.02 per share and $48.4 billion revenue, beating estimates of $6.77 and $47.04 billion, driven by its ad strength.
- Bank of America’s Justin Post set a $765 price target with a ‘Buy’ rating on March 24, citing Meta’s AI edge—Llama surpassing 700 million users, aiming for 1 billion—as a buffer against 2025 ad risks and a growth driver if market conditions improve.
Meta Platforms Inc. (META), boasting a hefty $1.57 trillion market cap, saw its stock rise 6.33%, or 1.02%, to $625.17 during midday trading on Tuesday, reflecting its strong position despite a broader tech sector wobble. The company, which owns Facebook, Instagram, and WhatsApp, has enjoyed a stellar 65% stock increase over the past year, trailing only Nvidia’s 171% among the so-called Magnificent 7 tech giants. This surge follows a robust January earnings report, where Meta posted $8.02 per share – beating the $6.77 Wall Street expected – and raked in $48.4 billion in revenue, surpassing the $47.04 billion forecast, thanks largely to its advertising muscle.
Yet, not everyone’s holding tight to Meta’s ride. According to the TheStreet, Cathie Wood’s Ark funds offloaded 22,116 shares between March 17 and March 20, cashing out around $15.9 million, or roughly $16 million by some counts, marking her first Meta sell-off in nearly a year. This move comes after a 16% drop from the stock’s February 14 peak, triggered by market jitters over President Trump’s tariff threats, which could dent economic growth and stoke inflation. Bank of America’s (BAC) Justin Post, in a March 24 note, flagged “macro-driven ad cuts” as a looming 2025 risk for online media, but he’s still bullish on Meta, setting a $765 price target with a ‘Buy’ rating, citing its resilience and growth potential.
Meta’s edge lies in its AI push, particularly with Llama, a model rivaling OpenAI’s offerings, now boasting over 700 million monthly users—a number CEO Mark Zuckerberg predicts will hit 1 billion this year, calling it a lasting strength. Bank of America agrees, noting Meta’s AI and machine learning advancements, alongside its solid ad business, could shield it from downturns and position it to thrive if market vibes improve. Even with regulatory and AI disruption risks lower than peers, Meta’s blend of scale, innovation, and ad revenue keeps it a standout in a choppy tech landscape.
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