Meta Platforms, Inc. (NASDAQ:META) Position Increased by Draper Asset Management LLC

Draper Asset Management LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 69.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,821 shares of the social networking company's stock after acquiring an additional 5,672 shares during the period. Meta Platforms makes up 5.3% of Draper Asset Management LLC's investment portfolio, making the stock its 6th largest position. Draper Asset Management LLC's holdings in Meta Platforms were worth $8,339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock worth $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Jennison Associates LLC lifted its position in Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company's stock worth $8,266,531,000 after buying an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Meta Platforms by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company's stock worth $8,344,552,000 after buying an additional 424,201 shares during the last quarter. Franklin Resources Inc. lifted its position in Meta Platforms by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company's stock worth $4,101,602,000 after buying an additional 186,728 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Meta Platforms by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after buying an additional 110,040 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $644.00, for a total transaction of $593,124.00. Following the transaction, the insider now directly owns 33,945 shares of the company's stock, valued at $21,860,580. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $589.16, for a total value of $243,323.08. Following the transaction, the chief operating officer now directly owns 17,514 shares in the company, valued at approximately $10,318,548.24. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 725,081 shares of company stock valued at $472,702,625. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 1.3 %

Meta Platforms stock opened at $605.71 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business's fifty day simple moving average is $657.45 and its two-hundred day simple moving average is $601.96. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

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Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the business earned $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.35%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms's payout ratio is 8.78%.

Analyst Ratings Changes

A number of analysts recently weighed in on META shares. Pivotal Research boosted their target price on Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Citigroup boosted their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Piper Sandler lifted their price target on Meta Platforms from $670.00 to $775.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price target on Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $719.26.

About Meta Platforms

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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