Sciencast Management LP Takes $2.12 Million Position in Meta Platforms, Inc. $META

Sciencast Management LP acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,758 shares of the social networking company’s stock, valued at approximately $2,117,000.

Several other institutional investors have also recently modified their holdings of META. Vivid Wealth Management LLC lifted its stake in Meta Platforms by 5.5% in the 2nd quarter. Vivid Wealth Management LLC now owns 4,259 shares of the social networking company’s stock valued at $2,399,000 after buying an additional 222 shares in the last quarter. Tepp RIA LLC purchased a new position in Meta Platforms during the second quarter worth $225,000. TradeWell Securities LLC. increased its position in Meta Platforms by 0.9% during the second quarter. TradeWell Securities LLC. now owns 16,521 shares of the social networking company’s stock worth $9,306,000 after buying an additional 142 shares in the last quarter. Cadinha & Co. LLC raised its holdings in shares of Meta Platforms by 754.2% in the second quarter. Cadinha & Co. LLC now owns 5,236 shares of the social networking company’s stock worth $2,949,000 after acquiring an additional 4,623 shares during the last quarter. Finally, Canal Capital Management LLC lifted its position in shares of Meta Platforms by 46.3% in the second quarter. Canal Capital Management LLC now owns 9,241 shares of the social networking company’s stock valued at $5,205,000 after acquiring an additional 2,926 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 7,848 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total transaction of $4,379,184.00. Following the transaction, the chief technology officer owned 828 shares of the company’s stock, valued at $462,024. This trade represents a 90.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 1,258 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $600.00, for a total transaction of $754,800.00. Following the sale, the chief operating officer directly owned 1,517 shares of the company’s stock, valued at $910,200. This represents a 45.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 34,957 shares of company stock valued at $20,442,696. 13.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Susquehanna decreased their price objective on Meta Platforms from $900.00 to $650.00 and set a “positive” rating on the stock in a research note on Thursday, July 30th. Phillip Securities upgraded shares of Meta Platforms to a “strong-buy” rating in a report on Monday, August 3rd. Rosenblatt Securities decreased their price target on shares of Meta Platforms from $1,015.00 to $883.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Erste Group Bank upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating in a report on Tuesday, July 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $785.00 price objective (down from $800.00) on shares of Meta Platforms in a research report on Thursday, July 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $785.32.

Meta Platforms Stock Performance

Meta Platforms stock opened at $570.05 on Wednesday. The stock has a fifty day moving average price of $592.21 and a 200 day moving average price of $613.14. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $790.80. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 21.47, a PEG ratio of 0.95 and a beta of 1.25. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). The business had revenue of $60.80 billion during the quarter, compared to analyst estimates of $60.22 billion. Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the business posted $7.14 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 28.5 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 15th. Meta Platforms’s dividend payout ratio is presently 7.91%.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is reportedly preparing to launch Hatch, a consumer AI agent that could let users browse Reddit, order from DoorDash, shop on Etsy, access Yelp and manage Outlook within Meta’s ecosystem. The product could increase engagement with Meta’s platforms and strengthen its position in consumer AI. Reddit Stock Is Up, What You Need to Know
• Positive Sentiment: Analysts continue to point to accelerating advertising growth, AI-powered ad tools, rising user engagement and increased advertiser adoption as factors helping Meta outperform social-media rivals Reddit and Snap. META Rides on Ad Growth
• Positive Sentiment: Former OpenAI researcher Luke Metz has joined Meta’s Superintelligence Labs and will report to AI chief Alexandr Wang. The hire supports Meta’s effort to build advanced AI capabilities, although the financial benefits are longer term. Luke Metz Joins Meta’s Superintelligence Labs
• Neutral Sentiment: Reports highlighted substantial Meta insider-trading activity during August, including notable transactions on August 18. The article did not establish whether the activity represented buying or selling, limiting its immediate stock-price significance. Monster Insider Trading Alert for Meta Stock
• Negative Sentiment: Instagram chief Adam Mosseri is testifying in a lawsuit brought by 29 states alleging that Meta designed Instagram and Facebook to be addictive to children while downplaying safety risks. An adverse outcome could create regulatory, redesign and financial costs. Instagram Head Adam Mosseri to Testify at Meta Trial

About Meta Platforms

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.