Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 28.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,117 shares of the social networking company’s stock after selling 451 shares during the quarter. Meta Platforms comprises approximately 0.5% of Krane Funds Advisors LLC’s holdings, making the stock its 17th largest position. Krane Funds Advisors LLC’s holdings in Meta Platforms were worth $639,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Central Valley Advisors LLC raised its holdings in shares of Meta Platforms by 0.3% in the 3rd 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 in the last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of Meta Platforms by 0.5% in the 3rd 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 in the last quarter. Alliance Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 0.7% in the 3rd 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 in the last quarter. Firethorn Wealth Partners LLC raised its holdings in shares of Meta Platforms by 1.8% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock worth $615,000 after buying an additional 19 shares in the last quarter. Finally, S.A. Mason LLC raised its holdings in shares of Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday. Citigroup raised their price target on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their price target on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $617.37.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $576.47 on Friday. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The stock’s 50-day moving average is $546.53 and its 200-day moving average is $508.68. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.23 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the sale, the insider now owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares in the company, valued at approximately $19,641,281.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,816 shares of company stock valued at $132,421,828. 13.71% of the stock is owned by insiders.

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.