Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,090 shares of the social networking company’s stock after buying an additional 11,110 shares during the period. Meta Platforms comprises approximately 2.8% of Quadrature Capital Ltd’s holdings, making the stock its 4th largest holding. Quadrature Capital Ltd’s holdings in Meta Platforms were worth $123,126,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Lindenwold Advisors INC increased its position in Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares during the last quarter. Central Valley Advisors LLC increased its position in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC increased its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC increased its position in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. increased its position in Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $613.78 on Thursday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $576.78 and a two-hundred day moving average price of $529.92. Meta Platforms, Inc. has a 1-year low of $315.39 and a 1-year high of $617.78. The company has a market cap of $1.55 trillion, a P/E ratio of 28.91, a PEG ratio of 1.35 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for 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%. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $522.00, for a total value of $215,586.00. Following the completion of the sale, the chief operating officer now owns 13,598 shares in the company, valued at approximately $7,098,156. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,668 shares of company stock valued at $81,288,334. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on META. Wells Fargo & Company lowered their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Monness Crespi & Hardt boosted their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays boosted their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Truist Financial boosted their price objective on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

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.