Brant Point Investment Management LLC Buys 9,449 Shares of Meta Platforms, Inc. (NASDAQ:META)

Brant Point Investment Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 96.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,249 shares of the social networking company’s stock after purchasing an additional 9,449 shares during the period. Meta Platforms comprises 0.8% of Brant Point Investment Management LLC’s holdings, making the stock its 16th largest position. Brant Point Investment Management LLC’s holdings in Meta Platforms were worth $9,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of META. Baird Financial Group Inc. raised its holdings in Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after purchasing an additional 51,900 shares in the last quarter. Donoghue Forlines LLC boosted its holdings 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 last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Meta Platforms by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares during the last quarter. Finally, Voyager Global Management LP grew its stake in shares of Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after buying an additional 140,000 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the sale, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75. Following the transaction, the insider now directly owns 36,940 shares in the company, valued at $19,724,113. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,348 shares of company stock valued at $154,678,120. 13.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on META shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company lifted their price target on Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. TD Cowen upped their price objective on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Loop Capital reiterated a “buy” rating and set a $550.00 target price on shares of Meta Platforms in a research note on Wednesday, July 3rd. Finally, Robert W. Baird dropped their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $525.66.

Meta Platforms Trading Up 2.7 %

NASDAQ:META traded up $12.29 on Friday, reaching $465.70. 14,222,388 shares of the stock traded hands, compared to its average volume of 13,931,730. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81. The company’s 50 day moving average is $493.20 and its 200-day moving average is $474.54. The firm has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.17 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 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.23 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.43%. Meta Platforms’s payout ratio is 11.49%.

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.