BLKBRD Asset Management LP Sells 19,545 Shares of Meta Platforms, Inc. $META

BLKBRD Asset Management LP decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 76.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,974 shares of the social networking company’s stock after selling 19,545 shares during the period. Meta Platforms comprises 5.3% of BLKBRD Asset Management LP’s portfolio, making the stock its 11th biggest position. BLKBRD Asset Management LP’s holdings in Meta Platforms were worth $3,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of META. Rothschild Wealth LLC raised its stake in shares of Meta Platforms by 47.9% during the 4th quarter. Rothschild Wealth LLC now owns 3,436 shares of the social networking company’s stock worth $2,268,000 after purchasing an additional 1,113 shares in the last quarter. Munro Partners raised its stake in shares of Meta Platforms by 7.6% during the 4th quarter. Munro Partners now owns 182,765 shares of the social networking company’s stock worth $120,641,000 after purchasing an additional 12,900 shares in the last quarter. Temasek Holdings Private Ltd raised its stake in shares of Meta Platforms by 71.2% during the 4th quarter. Temasek Holdings Private Ltd now owns 366,511 shares of the social networking company’s stock worth $241,930,000 after purchasing an additional 152,442 shares in the last quarter. Rakuten Investment Management Inc. raised its stake in shares of Meta Platforms by 161.8% during the 4th quarter. Rakuten Investment Management Inc. now owns 343,623 shares of the social networking company’s stock worth $226,341,000 after purchasing an additional 212,368 shares in the last quarter. Finally, Torque Asset Management LLC raised its stake in shares of Meta Platforms by 70.9% during the 4th quarter. Torque Asset Management LLC now owns 72,144 shares of the social networking company’s stock worth $47,622,000 after purchasing an additional 29,927 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META opened at $600.21 on Wednesday. The company has a market cap of $1.52 trillion, a P/E ratio of 21.82, a P/E/G ratio of 1.05 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The firm’s fifty day moving average price is $622.04 and its two-hundred day moving average price is $635.51.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period last year, the firm posted $6.43 EPS. Equities analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on META shares. Wolfe Research dropped their price objective on Meta Platforms from $850.00 to $800.00 and set an “outperform” rating on the stock in a research note on Friday, April 10th. Wells Fargo & Company dropped their price objective on Meta Platforms from $770.00 to $765.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Rosenblatt Securities reiterated a “buy” rating and set a $1,015.00 price objective on shares of Meta Platforms in a research note on Thursday, May 28th. Royal Bank Of Canada reiterated an “outperform” rating and set a $810.00 price objective on shares of Meta Platforms in a research note on Monday, June 1st. Finally, Piper Sandler started coverage on Meta Platforms in a research note on Tuesday, June 2nd. They set an “overweight” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $840.60.

Trending Headlines about Meta Platforms

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

• Positive Sentiment: Meta’s new AI Mode in Facebook Search and related AI tools could open a new monetization stream and improve engagement across its apps. Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Positive Sentiment: Bank of America reiterated a Buy rating, saying Meta’s AI strategy remains a key growth catalyst. BofA Reiterates Buy Rating on Meta Platforms (META) Cites AI Strategy a Key Growth Catalyst
• Positive Sentiment: Threads reached 500 million monthly active users, highlighting continued platform growth and stronger user engagement. Meta’s Threads reaches 500 million monthly users, rolls out new features
• Neutral Sentiment: Meta’s CTO said morale in the AI unit is near historic lows, which may reflect execution challenges even as the company doubles down on AI. Meta’s CTO says morale is almost ‘the worst it’s ever been’
• Negative Sentiment: Apple’s upcoming AI-powered AirPods and smart glasses could intensify competition in the AI wearables market, potentially challenging Meta’s device strategy. Apple to launch AI-juiced AirPods and sunglasses, going head-to-head with Meta
• Negative Sentiment: Reports of consumer-protection lawsuits in Europe add another regulatory overhang for Meta. Consumer Protection: Three Chances for Damages from Meta Platforms

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the transaction, the chief technology officer owned 414 shares in the company, valued at $251,641.62. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 2,778 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the transaction, the chief operating officer owned 10,557 shares in the company, valued at $6,645,103.65. The trade was a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,170 shares of company stock worth $24,218,565 over the last quarter. 13.53% of the stock is currently owned by corporate insiders.

Meta Platforms Company 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.