Michael Burry Sells These 5 Stocks to Brace for Impact

1. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 200

Meta Platforms, Inc. (NASDAQ:META) is a California-based social media and metaverse firm. Michael Burry has held the stock sporadically over the years. He initially invested in Meta Platforms, Inc. (NASDAQ:META) during the last quarter of 2018. In Q1 2022, he owned 80,000 shares of the company worth $17.7 million, representing 8.83% of the total portfolio. Burry discarded his stake entirely in Q2 2022. 

On August 5, Needham analyst Laura Martin kept an Underperform rating on Meta Platforms, Inc. (NASDAQ:META), observing that the firm’s outlook has deteriorated. Similarly, on July 29, DZ Bank analyst Ingo Wermann downgraded Meta Platforms, Inc. (NASDAQ:META) to Sell from Hold with a $140 price target.

Among the hedge funds tracked by Insider Monkey, Ken Fisher’s Fisher Asset Management featured as a significant position holder in the company, with 11.19 million shares worth about $2.5 billion. Overall, 200 hedge funds were bullish on the stock at the end of Q1 2022, down from 224 funds in the prior quarter. 

Here is what Boyar Value Group has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q4 2021 investor letter:

“Corporate executives can have many different reasons for selling shares (anticipation of tax law changes, philanthropy, diversification, and much more), but the sheer number of billionaire founders who sold shares in 2021 should raise eyebrows and might well be signaling a market top. Bloomberg’s Ben Steverman and Scott Carpenter report not only that Mark Zuckerberg of Meta Platforms Inc. (formerly known as Facebook) sold shares in his company almost every day last year but also that the founders of Google sold ~$3.5 billion worth of stock (the first time either Sergey Brin or Larry Page has sold shares since 2017).”

You can also take a look at 10 Technology Stocks Hedge Funds Are Talking About and 10 Undervalued Dividend Kings To Buy In 2022. 

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