Earnings
Home›Earnings›Previews›Cathie Wood adds $18 million to Meta ahead of July 29…
Cathie Wood adds $18 million to Meta ahead of July 29 earnings
Wood bought 28,106 Meta shares worth about $18.16 million, citing strong Family of Apps growth and improving ad pricing.
Cathie Wood, founder of ARK Invest, added roughly $18 million to Meta Platforms shares ahead of the company’s July 29 earnings report, positioning the purchase around Meta’s recent pullback despite continued momentum in AI-related demand. According to Yahoo Finance, the purchase totaled 28,106 Meta shares worth about $18.16 million, bringing Meta’s holdings across various ARK Invest funds to a 7.8% total weight. The article notes Meta stock is down about 8% year-to-date and 21% below its 52-week high, and it has trailed the Nasdaq Composite. The reported rationale centers on Meta’s advertising performance within its Family of Apps segment. Yahoo Finance cites first-quarter Family of Apps revenue of $55.9 billion, up 33% year over year, alongside operating income rising 24% to $26.9 billion, with ad revenue contributing $55 billion. The article also highlights improvements in ad delivery and pricing, including a 19% increase in ad impressions and a 12% rise in average price per advertisement. Yahoo Finance attributes the pricing strength to stronger engagement across Meta’s apps, improved advertiser performance, and healthier macroeconomic conditions, alongside AI improvements supporting ad outcomes.
Latest closeNasdaq Comp. 24,975.82 ▼0.6%