This article first appeared on GuruFocus.
ETF flows into Meta Platforms extended a three-day buying streak on Tuesday, with a net $99.7 million added. That followed net buying of $212.8 million on Monday and $218.1 million on Friday, after two straight days of net selling to start the prior stretch. On Tuesday, 46 ETFs bought Meta shares against 18 that sold, while 179 held steady. ETF activity has been firmly on the buy side over the latest three sessions.
For the full record of ETF and guru buying and selling in META, see the META guru trades page.
Which ETFs bought META on Tuesday?
The largest buyers by dollar value were QQQ ($97.3 million), SPY ($44.9 million) and AVLV ($10.4 million). In all, 46 ETFs added shares and 18 cut them.
Invesco QQQ led the move, adding 151,759 shares worth $97.3 million, a 0.67% increase in its stake, with Meta at 3.17% of the fund. SPY added 70,070 shares valued at $44.9 million, and AVLV added 16,170 shares worth $10.4 million. QQQM, SPYM, QLD, TQQQ and CGGR also raised their positions. Meta sits in the Communication Services sector and the Internet Content & Information industry, with a market cap of $1.61 trillion.
Have ETFs been buying or selling META lately?
Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.
What does META do?
Meta Platforms builds technology that connects people through its Family of Apps: Facebook, Instagram, WhatsApp, Messenger, and Threads, used by billions worldwide. Substantially all revenue comes from selling advertising placements across these apps, which let marketers reach people based on a range of objectives.
Meta Platforms reported trailing-12-month revenue of $241.61 billion, up 28.3% over the past year, with a gross margin of 81.0% and a net margin of 31.1%. The stock trades at a P/E of 21.44, a P/B of 5.9 and a P/S of 6.68, against a market cap of $1.61 trillion. Its GF Score is 99, and at a price of $628.77 it sits below the GF Value of $884.58. The dividend yield is 0.32%, and the shares are down 4.5% year to date.