Jackson Square Capital LLC Has $1.08 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Jackson Square Capital LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 47.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,851 shares of the social networking company's stock after buying an additional 595 shares during the period. Jackson Square Capital LLC's holdings in Meta Platforms were worth $1,084,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Fiera Capital Corp increased its position in Meta Platforms by 35.1% during the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company's stock worth $13,751,000 after purchasing an additional 7,089 shares in the last quarter. Elite Wealth Management Inc. grew its stake in Meta Platforms by 16.8% during the second quarter. Elite Wealth Management Inc. now owns 27,736 shares of the social networking company's stock worth $13,985,000 after buying an additional 3,981 shares during the period. King Luther Capital Management Corp increased its position in shares of Meta Platforms by 68.5% in the second quarter. King Luther Capital Management Corp now owns 99,633 shares of the social networking company's stock worth $50,237,000 after acquiring an additional 40,504 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of Meta Platforms by 12.3% in the 2nd quarter. AE Wealth Management LLC now owns 165,105 shares of the social networking company's stock valued at $83,250,000 after acquiring an additional 18,130 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Meta Platforms by 5.9% during the 2nd quarter. Pacer Advisors Inc. now owns 265,756 shares of the social networking company's stock valued at $133,999,000 after acquiring an additional 14,831 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Up 0.6 %

Shares of META stock traded up $3.69 during trading hours on Tuesday, reaching $616.46. 11,584,932 shares of the stock traded hands, compared to its average volume of 13,100,104. 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 $1.56 trillion, a PE ratio of 29.04, a PEG ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $381.16 and a 1-year high of $638.40. The business has a fifty day moving average price of $597.37 and a 200 day moving average price of $557.77.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities research analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Roth Mkm boosted their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. Morgan Stanley increased their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $651.27.

Insider Activity

In other news, insider Nicholas Clegg sold 7,296 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now directly owns 38,695 shares of the company's stock, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 495,269 shares of company stock worth $300,888,396 in the last 90 days. Company insiders own 13.71% of the company's stock.

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.