Octahedron Capital Management L.P. Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Octahedron Capital Management L.P. raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 478.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,550 shares of the social networking company’s stock after buying an additional 8,725 shares during the period. Meta Platforms comprises about 5.3% of Octahedron Capital Management L.P.’s holdings, making the stock its 9th largest position. Octahedron Capital Management L.P.’s holdings in Meta Platforms were worth $5,320,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in META. Quest Partners LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at $32,000. Clear Investment Research LLC lifted its position in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the second quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. Bank of America raised their price target on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Loop Capital raised their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Truist Financial raised their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $577.26.

Meta Platforms Price Performance

META stock opened at $561.35 on Monday. The firm has a 50 day moving average of $507.58 and a 200-day moving average of $497.27. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $564.50. The firm has a market capitalization of $1.42 trillion, a P/E ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the business posted $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s payout ratio is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the sale, the chief executive officer now directly owns 230,461 shares in the company, valued at $117,737,915.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the completion of the sale, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the sale, the chief executive officer now owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The disclosure for this sale can be found here. Insiders sold a total of 346,666 shares of company stock worth $180,145,414 over the last three months. 13.71% of the stock is owned by insiders.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.