Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Soros Capital Management LLC

Soros Capital Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 3,417.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,649 shares of the social networking company’s stock after purchasing an additional 47,266 shares during the period. Meta Platforms accounts for about 6.7% of Soros Capital Management LLC’s holdings, making the stock its 2nd biggest position. Soros Capital Management LLC’s holdings in Meta Platforms were worth $27,849,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Freedom Investment Management Inc. grew its holdings in shares of Meta Platforms by 2.1% during the third quarter. Freedom Investment Management Inc. now owns 10,895 shares of the social networking company’s stock worth $6,237,000 after purchasing an additional 227 shares during the last quarter. Fernbridge Capital Management LP acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at about $38,787,000. Insight Wealth Partners LLC boosted its position in shares of Meta Platforms by 59.0% in the 3rd quarter. Insight Wealth Partners LLC now owns 1,627 shares of the social networking company’s stock valued at $931,000 after purchasing an additional 604 shares during the period. Townsquare Capital LLC grew its stake in Meta Platforms by 36.9% during the 3rd quarter. Townsquare Capital LLC now owns 124,884 shares of the social networking company’s stock worth $71,488,000 after buying an additional 33,659 shares during the last quarter. Finally, NCP Inc. increased its position in Meta Platforms by 8.2% during the third quarter. NCP Inc. now owns 123,428 shares of the social networking company’s stock worth $70,655,000 after buying an additional 9,380 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $569.20 on Thursday. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm’s 50-day moving average is $574.12 and its two-hundred day moving average is $526.03.

Meta Platforms (NASDAQ:META) last announced its earnings results 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 firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts predict that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on META. DA Davidson began coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price on the stock. Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Loop Capital raised their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

Insider Buying and Selling

In related news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,561 shares of company stock worth $62,445,464. 13.71% of the stock is owned by company insiders.

About Meta Platforms

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.