Cathie Wood’s ARK Invest sold 3,578 shares of Meta Platforms (META) on March 25, across three of its actively managed ETFs. The sale, worth nearly $2.1 million based on Meta’s closing price, reflects ARK’s ongoing shift away from mega-cap tech leaders and toward emerging names. META stock is trading over 8% lower in Thursday’s regular session.
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New trading tool for ARKK bulls/bearsThe Meta trim was spread across three ARK funds, including ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Blockchain & Fintech Innovation ETF (ARKF).
Following the sale, ARKK still holds about 105,000 shares of Meta, valued at about $63 million. Meta now accounts for roughly 1% of ARKK’s portfolio.
On the same day ARK trimmed Meta, it bought 84,939 shares of Tempus AI (TEM) for nearly $4 million. Tempus has quickly moved up ARKK’s portfolio and is now the fund’s third‑largest holding, behind only Tesla (TSLA) and CRISPR Therapeutics (CRSP).
Meta’s Recent Key Developments
The sale came amid several developments for Meta. These include:
- Legal Setback: A jury ruled that Meta and Google’s (GOOGL) YouTube were negligent in a landmark social media addiction case involving harm to children and teens.
- Operational Cuts: Meta reportedly laid off hundreds of employees as part of ongoing restructuring.
- Growth Targets: Meta also disclosed an executive compensation plan tied to an aggressive goal of reaching a $9 trillion valuation by 2031.
Is Meta a Good Stock to Buy Now?
Turning to Wall Street, META stock has a Strong Buy consensus rating based on 40 Buy and five Hold recommendations. The average Meta Platforms stock price target of $865.58 implies an upside potential of 57.11%.
