Key Points
As of September 30, 2023, billionaire hedge fund manager Stephen Mandel holds 7.1% of his Lone Pine Capital Holdings portfolio in Meta Platforms (NASDAQ: META). This significant position raises questions as the stock has declined by approximately 10% since that date.
Meta Platforms, which oversees major social media platforms like Facebook and Instagram, reported a 26% year-over-year revenue increase in Q3 2023, though its stock is now trading at a forward P/E ratio of 21.7, cheaper than the S&P 500’s 22.3. The company plans to increase its capital expenditures over $100 billion in 2026, a move that was met with market skepticism.
Investors will have to wait until around March 15, 2024, for the next quarterly disclosure to see if Mandel has adjusted his stake, as it could indicate future market trends for Meta’s stock.
