Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Profund Advisors LLC

Profund Advisors LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,295 shares of the social networking company’s stock after acquiring an additional 211 shares during the quarter. Meta Platforms accounts for about 2.5% of Profund Advisors LLC’s portfolio, making the stock its 6th largest position. Profund Advisors LLC’s holdings in Meta Platforms were worth $68,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of META. Baird Financial Group Inc. raised its position in Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after buying an additional 51,900 shares during the period. Voyager Global Management LP increased its stake in shares of Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after buying an additional 140,000 shares during the period. Gradient Investments LLC raised its holdings in Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its stake in Meta Platforms by 14.0% in the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after acquiring an additional 748,076 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on META. Citigroup increased their price objective on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Truist Financial increased their price objective on Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, TD Securities boosted their target price on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $578.92.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction 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 transaction, the chief executive officer now owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $514.41, for a total value of $211,936.92. Following the sale, the chief operating officer now directly owns 7,207 shares in the company, valued at $3,707,352.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the sale, the chief executive officer now directly owns 230,461 shares in the company, valued at approximately $117,737,915.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 365,761 shares of company stock valued at $190,846,038. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $564.41 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $573.98. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 32.42, a PEG ratio of 1.26 and a beta of 1.21. The company’s fifty day moving average is $507.58 and its two-hundred day moving average is $497.28.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the firm earned $3.23 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. Analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

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.