8,149 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Draper Asset Management LLC

Draper Asset Management LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,149 shares of the social networking company’s stock, valued at approximately $4,665,000. Meta Platforms comprises about 3.3% of Draper Asset Management LLC’s investment portfolio, making the stock its 7th largest holding.

A number of other hedge funds have also bought and sold shares of META. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter valued at approximately $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at $49,000. Finally, NewSquare Capital LLC increased its stake in shares of Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $521.35, for a total value of $215,317.55. Following the transaction, the chief operating officer now directly owns 14,011 shares in the company, valued at approximately $7,304,634.85. This represents a 2.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 7,975 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $516.36, for a total value of $4,117,971.00. Following the completion of the sale, the chief executive officer now directly owns 531,884 shares in the company, valued at approximately $274,643,622.24. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,218 shares of company stock valued at $65,819,414 in the last quarter. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of several recent research reports. Roth Mkm upped their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. TD Cowen upped their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Bank of America raised their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Finally, Scotiabank dropped their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Trading Up 1.1 %

Shares of META opened at $565.11 on Tuesday. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22. The firm has a 50-day moving average price of $573.38 and a 200 day moving average price of $525.35. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio 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.