Summit Global Investments Decreases Holdings in Meta Platforms, Inc. $META

Summit Global Investments lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,327 shares of the social networking company’s stock after selling 2,742 shares during the period. Meta Platforms comprises 0.6% of Summit Global Investments’ investment portfolio, making the stock its 14th biggest position. Summit Global Investments’ holdings in Meta Platforms were worth $10,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its stake in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after buying an additional 570 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Meta Platforms by 10.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after acquiring an additional 875 shares during the last quarter. Headwater Capital Co Ltd increased its position in shares of Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after purchasing an additional 112,000 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in Meta Platforms in the 2nd quarter valued at $213,000. Finally, Capital & Planning LLC acquired a new position in Meta Platforms in the 2nd quarter valued at $322,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on META. Monness Crespi & Hardt lowered their target price on shares of Meta Platforms from $890.00 to $730.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Phillip Securities raised shares of Meta Platforms to a “strong-buy” rating in a research note on Monday, August 3rd. Evercore restated an “outperform” rating on shares of Meta Platforms in a research report on Thursday, July 30th. Wall Street Zen cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Truist Financial cut their price objective on shares of Meta Platforms from $770.00 to $763.00 and set a “buy” rating for the company in a report on Thursday, August 27th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $785.22.

Meta Platforms Stock Up 2.5%

NASDAQ META opened at $592.85 on Thursday. The business’s fifty day simple moving average is $593.48 and its 200-day simple moving average is $609.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.51 trillion, a PE ratio of 22.33, a P/E/G ratio of 1.00 and a beta of 1.25. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $790.80.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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). Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The firm had revenue of $60.80 billion during the quarter, compared to analysts’ expectations of $60.22 billion. During the same period in the prior year, the company posted $7.14 EPS. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 28.17 earnings per share for the current year.

Insider Activity

In other news, insider Curtis J. Mahoney sold 1,559 shares of Meta Platforms 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 $869,922.00. Following the sale, the insider owned 1,957 shares of the company’s stock, valued at approximately $1,092,006. The trade was a 44.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $4,379,184.00. Following the completion of the transaction, the chief technology officer owned 828 shares in the company, valued at $462,024. This represents a 90.46% 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. Over the last quarter, insiders have sold 32,987 shares of company stock valued at $19,202,995. Company insiders own 13.53% of the company’s stock.

Key Meta Platforms News

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

• Positive Sentiment: New AI model strengthens product narrative: Meta launched Muse Spark 1.3, described as its most advanced AI model, supporting the view that the company is intensifying competition with leading AI developers and could create new monetization opportunities. Meta Platforms unveils most powerful AI model
• Positive Sentiment: $18 billion settlement removes a major overhang: The settlement of lawsuits alleging harm to children provides greater legal visibility. Analysts believe limits on teen usage should have a limited effect on revenue and that resolving the case could clear the way for accelerated AI-product launches. Meta settlement could clear the way for new AI product launches
• Positive Sentiment: Valuation is attracting buyers: Articles characterize META as undervalued at roughly 16–20 times forward earnings, well below its historical valuation, despite 28% recent revenue growth and resilient user engagement. Morgan Stanley analysts see potential for substantial upside if AI improves advertising and product growth. Meta stock looks undervalued
• Positive Sentiment: Advertising outlook remains favorable: An analyst report argues that AI-powered targeting and engagement could help Meta challenge Google for leadership in digital advertising, adding to the stock’s growth appeal. Meta versus Google digital advertising outlook
• Neutral Sentiment: Analyst stance remains cautious: Wedbush reaffirmed a neutral rating with a $595 price target, suggesting limited near-term upside despite the improving legal and AI backdrop.
• Negative Sentiment: AI spending is pressuring cash flow: Meta’s latest results showed margin compression and sharply lower free cash flow as capital expenditures increased, creating concern that returns on its large AI investments may take time.
• Negative Sentiment: Trust and safety issues persist: Meta disabled cameras on thousands of AI glasses after detecting tampering with recording lights, while it also removed scam advertisements in India linked to malware and stolen banking credentials. These incidents could increase regulatory and reputational pressure.

Meta Platforms Profile

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.