1,603 Shares in Meta Platforms, Inc. $META Purchased by Rexford Capital Inc.

by · The Cerbat Gem

Rexford Capital Inc. purchased a new position in Meta Platforms, Inc. (NASDAQ:META – Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,603 shares of the social networking company’s stock, valued at approximately $1,183,000. Meta Platforms makes up 1.0% of Rexford Capital Inc.’s portfolio, making the stock its 17th biggest holding.

Several other large investors also recently made changes to their positions in META. Brighton Jones LLC grew its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after purchasing an additional 875 shares during the period. Aspire Growth Partners LLC increased its stake in Meta Platforms by 7.3% in the 1st quarter. Aspire Growth Partners LLC now owns 662 shares of the social networking company’s stock worth $395,000 after purchasing an additional 45 shares in the last quarter. Waddell & Associates LLC lifted its stake in Meta Platforms by 5.0% during the first quarter. Waddell & Associates LLC now owns 2,508 shares of the social networking company’s stock valued at $1,446,000 after buying an additional 119 shares in the last quarter. Finally, Headwater Capital Co Ltd boosted its holdings in shares of Meta Platforms by 294.7% in the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after buying an additional 112,000 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on META. BNP Paribas began coverage on shares of Meta Platforms in a report on Monday, November 24th. They set an “outperform” rating and a $800.00 price target on the stock. Oppenheimer downgraded shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 30th. Wedbush restated an “outperform” rating and issued a $920.00 target price on shares of Meta Platforms in a report on Thursday, October 30th. Jefferies Financial Group lowered their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Wells Fargo & Company reduced their price objective on Meta Platforms from $837.00 to $802.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $819.46.

Read Our Latest Stock Report on Meta Platforms

Insider Buying and Selling at Meta Platforms

In related news, CAO Aaron Anderson sold 726 shares of Meta Platforms stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the sale, the chief accounting officer owned 6,035 shares of the company’s stock, valued at approximately $3,570,306. The trade was a 10.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 517 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $669.63, for a total transaction of $346,198.71. Following the transaction, the chief operating officer directly owned 13,751 shares in the company, valued at $9,208,082.13. The trade was a 3.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,959 shares of company stock valued at $26,578,191 over the last three months. 13.61% of the stock is owned by insiders.

Meta Platforms Price Performance

META opened at $644.23 on Friday. The stock has a fifty day moving average price of $665.92 and a 200 day moving average price of $707.24. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The stock has a market cap of $1.62 trillion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.35 and a beta of 1.28.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.51. The company had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business’s revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.03 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a $0.525 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is 9.28%.

Meta Platforms Company Profile

(Free Report)

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.

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