Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Ratan Capital Management LP

Ratan Capital Management LP grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 47.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,806 shares of the social networking company’s stock after purchasing an additional 14,760 shares during the period. Meta Platforms makes up approximately 4.1% of Ratan Capital Management LP’s investment portfolio, making the stock its 8th largest holding. Ratan Capital Management LP’s holdings in Meta Platforms were worth $26,820,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of META. Point72 Europe London LLP grew its holdings in Meta Platforms by 1,563.4% during the fourth quarter. Point72 Europe London LLP now owns 70,295 shares of the social networking company’s stock worth $41,158,000 after acquiring an additional 66,069 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Meta Platforms during the fourth quarter valued at approximately $2,214,000. Polar Capital Holdings Plc increased its holdings in shares of Meta Platforms by 4.1% in the fourth quarter. Polar Capital Holdings Plc now owns 1,503,673 shares of the social networking company’s stock valued at $880,416,000 after buying an additional 58,805 shares in the last quarter. Quadcap Wealth Management LLC grew its holdings in shares of Meta Platforms by 1.5% in the 4th quarter. Quadcap Wealth Management LLC now owns 11,839 shares of the social networking company’s stock worth $6,932,000 after acquiring an additional 172 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Meta Platforms by 25.1% in the 4th quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company’s stock valued at $215,760,000 after purchasing an additional 73,907 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on META shares. Citigroup raised their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, May 1st. Argus set a $775.00 price objective on Meta Platforms in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their target price on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $696.45.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $659.36 on Thursday. The firm has a fifty day moving average price of $569.76 and a two-hundred day moving average price of $605.94. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market cap of $1.67 trillion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.71 earnings per share. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the transaction, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. This trade represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 19,668 shares of Meta Platforms stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $734.49, for a total transaction of $14,445,949.32. The disclosure for this sale can be found here. Insiders sold a total of 99,932 shares of company stock worth $69,021,252 over the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Company Profile

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.