Billionaire Investor Ups Meta Bet As Hedge Fund Reverses Earlier Exit

Benzinga

Dan Loeb’s Third Point boosted its Meta stake by 47% in Q3 after previously exiting the position, according to new 13F filings. Meta delivered strong revenue growth despite a large one-time tax charge that drove diluted EPS to $1.05 and guided Q4 sales as high as $59 billion. Analysts raised or adjusted price targets, with BofA at $810 and Rosenblatt at $1,117, both maintaining Buy ratings.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Activist investor Dan Loeb's Third Point increased its Meta stake by 47% in the third quarter,

00:09raising holdings to 220,000 shares after exiting its position earlier in the year,

00:14according to recent 13F filings. Meta reported diluted earnings per share of $1.05 in the third

00:20quarter due to a one-time $15.93 billion tax charge and posted $51.24 billion in revenue,

00:27which beat expectations and rose 26.25% year-over-year. The company projected fourth

00:33quarter revenue of $56 billion to $59 billion. Analysts updated their Meta price targets after

00:40earnings, with B of A securities lowering its forecast to $810 and Rosenblatt raising theirs

00:45to $1,117 while both kept buy ratings. For all things money, visit Benzinga.com.

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