D1 Capital Partners L.P. Takes $144.06 Million Position in Meta Platforms, Inc. (NASDAQ:META)

D1 Capital Partners L.P. purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 251,665 shares of the social networking company’s stock, valued at approximately $144,063,000. Meta Platforms makes up approximately 2.8% of D1 Capital Partners L.P.’s holdings, making the stock its 11th biggest holding.

Several other large investors have also recently bought and sold shares of the business. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms during the third quarter worth $46,000. West Financial Advisors LLC acquired a new stake in Meta Platforms during the third quarter valued at $49,000. Finally, NewSquare Capital LLC grew its stake in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after purchasing an additional 71 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the sale, the chief financial officer now owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,239 shares of company stock worth $59,681,541. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Cowen lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Loop Capital lifted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Pivotal Research upped their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Scotiabank cut their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

Meta Platforms Stock Performance

NASDAQ:META opened at $574.32 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.45 trillion, a PE ratio of 27.05, a price-to-earnings-growth 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 firm has a 50-day moving average price of $575.21 and a 200 day moving average price of $527.37.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts anticipate that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

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.