Renaissance trims META shares, boosts investment value.
Stock Earnings Results
May 31, 2024
Known for its exceptional stock investing strategies, Renaissance Technologies has an impressive annualized return of over 30% for the past two decades.
Investors looking for the best stocks and top stock picks for 2024 often follow Renaissance’s portfolio adjustments closely.
In a strategic move, Renaissance Technologies reduced its holdings in Meta Platforms Inc (META) by 531,469 shares, a substantial -25% decrease, bringing the total shares down from 2,101,986 in Q4 2023 to 1,570,517 in Q1 2024.
Despite this reduction in shares, the value of the holdings increased slightly by 3%, from $744,020,000 to $762,612,000.
The stock sale seems to indicate a desire to keep the size of META holdings the same.
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