Point Break Capital Management LLC Buys New Position in Meta Platforms, Inc. (NASDAQ:META)

Point Break Capital Management LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,110 shares of the social networking company’s stock, valued at approximately $2,481,000. Meta Platforms accounts for about 2.6% of Point Break Capital Management LLC’s investment portfolio, making the stock its 7th largest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of META. Baird Financial Group Inc. boosted its holdings in Meta Platforms by 24.2% in the fourth 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 during the period. California State Teachers Retirement System boosted its stake in shares of Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after buying an additional 51,900 shares during the period. Donoghue Forlines LLC boosted its stake in shares of Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after buying an additional 4,054 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares in the last quarter. Finally, 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. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 2.0 %

Shares of NASDAQ META traded down $9.44 during midday trading on Thursday, reaching $451.83. 2,727,192 shares of the company’s stock were exchanged, compared to its average volume of 16,101,643. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The business’s fifty day moving average price is $493.72 and its two-hundred day moving average price is $473.94. The stock has a market capitalization of $1.15 trillion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Analysts forecast that Meta Platforms, Inc. will post 20.23 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.44%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total value of $8,916,696.74. Following the sale, the chief executive officer now directly owns 151,918 shares in the company, valued at $81,104,462.66. The disclosure for this sale can be found here. Insiders have sold 310,933 shares of company stock worth $154,451,206 in the last ninety days. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on META. TD Securities lifted their price target on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Raymond James boosted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft cut their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. UBS Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $521.48.

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.