Torren Management LLC Trims Position in Meta Platforms, Inc. $META

Torren Management LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 92.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96 shares of the social networking company’s stock after selling 1,168 shares during the period. Torren Management LLC’s holdings in Meta Platforms were worth $55,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. First National Bank Sioux Falls increased its holdings in Meta Platforms by 0.7% during the 4th quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock worth $1,321,000 after acquiring an additional 14 shares during the period. Levin Capital Strategies L.P. boosted its holdings in Meta Platforms by 1.4% in the 4th quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock valued at $649,000 after purchasing an additional 14 shares during the period. Vista Capital Partners Inc. boosted its holdings in Meta Platforms by 1.3% in the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after purchasing an additional 14 shares during the period. Arcataur Capital Management LLC grew its position in shares of Meta Platforms by 0.9% during the 4th quarter. Arcataur Capital Management LLC now owns 1,736 shares of the social networking company’s stock valued at $1,146,000 after purchasing an additional 15 shares in the last quarter. Finally, Acorn Creek Capital LLC increased its holdings in shares of Meta Platforms by 0.7% in the fourth quarter. Acorn Creek Capital LLC now owns 2,118 shares of the social networking company’s stock worth $1,398,000 after purchasing an additional 15 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on META. Roth Capital reissued a “buy” rating on shares of Meta Platforms in a research note on Thursday, April 30th. Guggenheim dropped their price target on Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. UBS Group decreased their price objective on shares of Meta Platforms from $865.00 to $766.00 and set a “buy” rating on the stock in a research report on Monday. Cantor Fitzgerald lowered their target price on shares of Meta Platforms from $850.00 to $750.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group lowered shares of Meta Platforms from a “buy” rating to a “sell” rating in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $835.90.

Get Our Latest Analysis on META

Insider Buying and Selling

In other news, COO Javier Olivan sold 3,348 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $600.97, for a total value of $2,012,047.56. Following the completion of the sale, the chief operating officer owned 9,498 shares of the company’s stock, valued at approximately $5,708,013.06. The trade was a 26.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total value of $1,268,023.68. Following the sale, the insider owned 1,118 shares of the company’s stock, valued at $681,890.56. This represents a 65.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,503 shares of company stock valued at $24,241,859 over the last three months. 13.53% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 3.1%

META stock opened at $681.31 on Thursday. The company has a market capitalization of $1.72 trillion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The company’s 50 day moving average price is $601.49 and its two-hundred day moving average price is $626.86.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. During the same quarter in the prior year, the company earned $6.43 EPS. The firm’s revenue was up 33.1% on a year-over-year basis. As a group, analysts predict that Meta Platforms, Inc. will post 29.42 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Meta Platforms News Roundup

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

Meta Platforms Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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