Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Makena Capital Management LLC

Makena Capital Management LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 21.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,450 shares of the social networking company’s stock after selling 6,417 shares during the quarter. Meta Platforms makes up approximately 3.2% of Makena Capital Management LLC’s holdings, making the stock its 7th largest holding. Makena Capital Management LLC’s holdings in Meta Platforms were worth $13,424,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its stake in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after acquiring an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX raised its position in Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after purchasing an additional 3,224 shares during the last quarter. Ascent Group LLC lifted its holdings in Meta Platforms by 0.6% during the 1st quarter. Ascent Group LLC now owns 27,652 shares of the social networking company’s stock worth $13,427,000 after buying an additional 178 shares in the last quarter. Waterford Advisors LLC boosted its position in Meta Platforms by 24.8% in the 1st quarter. Waterford Advisors LLC now owns 956 shares of the social networking company’s stock valued at $464,000 after buying an additional 190 shares during the last quarter. Finally, Ashford Capital Management Inc. bought a new stake in shares of Meta Platforms during the first quarter worth $3,916,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 620 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the sale, the chief operating officer now owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This trade represents a 3.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,843 shares of company stock valued at $92,083,554 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on META shares. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. DA Davidson started coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target for the company. Wedbush restated an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, JMP Securities raised their price target on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Performance

META opened at $559.14 on Friday. The business has a 50 day moving average of $572.74 and a 200-day moving average of $524.35. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The stock has a market cap of $1.41 trillion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.25 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. On average, equities research analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Meta Platforms 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.