one8zero8 LLC Sells 262 Shares of Meta Platforms, Inc. (NASDAQ:META)

by · The Markets Daily

one8zero8 LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 17.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,198 shares of the social networking company’s stock after selling 262 shares during the quarter. one8zero8 LLC’s holdings in Meta Platforms were worth $690,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of META. Resolute Wealth Strategies LLC increased its stake in Meta Platforms by 83.9% during the 1st quarter. Resolute Wealth Strategies LLC now owns 1,688 shares of the social networking company’s stock worth $973,000 after purchasing an additional 770 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Meta Platforms by 4.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,100,401 shares of the social networking company’s stock worth $634,227,000 after purchasing an additional 43,277 shares in the last quarter. Cornerstone Advisory LLC increased its stake in Meta Platforms by 1.9% during the 1st quarter. Cornerstone Advisory LLC now owns 13,052 shares of the social networking company’s stock worth $7,665,000 after purchasing an additional 240 shares in the last quarter. Tikehau Investment Management bought a new stake in Meta Platforms during the 1st quarter worth approximately $1,012,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Meta Platforms during the 1st quarter worth approximately $6,274,000. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the transaction, the chief executive officer owned 118,279 shares in the company, valued at approximately $82,928,955.27. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,980 shares of company stock worth $105,708,832 over the last 90 days. Insiders own 13.61% of the company’s stock.

Meta Platforms Stock Up 11.3%

Shares of NASDAQ META opened at $773.44 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a 52 week low of $450.80 and a 52 week high of $784.75. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 28.00, a PEG ratio of 1.66 and a beta of 1.28. The stock’s fifty day moving average is $699.22 and its 200 day moving average is $644.61.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts’ consensus estimates of $5.75 by $1.39. Meta Platforms had a return on equity of 40.31% and a net margin of 39.99%. The company had revenue of $47.52 billion for the quarter, compared to analysts’ expectations of $44.55 billion. During the same quarter last year, the business earned $5.16 earnings per share. Meta Platforms’s revenue was up 21.6% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms’s payout ratio is currently 8.19%.

Wall Street Analyst Weigh In

META has been the subject of a number of research reports. DA Davidson increased their target price on Meta Platforms from $650.00 to $825.00 and gave the stock a “buy” rating in a research note on Thursday. TD Securities decreased their price target on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Raymond James Financial raised their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Moffett Nathanson raised their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC raised shares of Meta Platforms from an “underperform” rating to a “hold” rating in a research note on Thursday, July 3rd. Four analysts have rated the stock with a hold rating, forty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $811.31.

Get Our Latest Stock Analysis on META

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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