7,437 Meta Platforms, Inc. $META Shares Sold by Greenup Street Wealth Management LLC

Key Points

• Greenup Street Wealth Management cut its Meta stake by 55.7% in the third quarter, selling 7,437 shares and retaining 5,911 shares valued at $4.287 million.
• Meta reported quarterly earnings of $7.40 per share, beating estimates of $6.54, while revenue of $64.6 billion exceeded forecasts and rose 26.1% year over year.
• Analysts remain broadly positive: Meta has a “Moderate Buy” consensus rating and an average price target of $833.12.

Greenup Street Wealth Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 55.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,911 shares of the social networking company's stock after selling 7,437 shares during the quarter. Greenup Street Wealth Management LLC's holdings in Meta Platforms were worth $4,287,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. State Street Corp boosted its position in shares of Meta Platforms by 4.0% during the 2nd quarter. State Street Corp now owns 92,033,963 shares of the social networking company's stock valued at $51,841,811,000 after purchasing an additional 3,510,123 shares in the last quarter. Bank of America Corp DE grew its stake in Meta Platforms by 14.6% during the first quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company's stock worth $12,036,491,000 after purchasing an additional 2,673,494 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Meta Platforms by 1.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,836,063 shares of the social networking company's stock worth $7,230,426,000 after purchasing an additional 162,909 shares in the last quarter. Amundi increased its holdings in Meta Platforms by 18.1% in the first quarter. Amundi now owns 11,858,972 shares of the social networking company's stock worth $6,784,873,000 after purchasing an additional 1,815,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Meta Platforms by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 10,429,812 shares of the social networking company's stock worth $5,964,745,000 after purchasing an additional 404,948 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Insider Activity

In related news, CTO Andrew Bosworth sold 7,848 shares of the firm's stock in a transaction dated 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 transaction, the chief technology officer owned 828 shares of the company's stock, valued at approximately $462,024. This trade represents a 90.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,196 shares of Meta Platforms stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $550.61, for a total value of $5,063,409.56. Following the transaction, the chief financial officer owned 13,186 shares of the company's stock, valued at $7,260,343.46. This trade represents a 41.09% decrease in their position. 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 three months, insiders sold 151,090 shares of company stock valued at $103,150,807. 13.53% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $605.08 on Friday. The company has a fifty day simple moving average of $674.18 and a 200 day simple moving average of $632.13. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $779.82. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.55 trillion, a P/E ratio of 20.63, a PEG ratio of 1.09 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, beating analysts' consensus estimates of $6.54 by $0.86. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The business had revenue of $64.60 billion during the quarter, compared to analyst estimates of $63.34 billion. During the same quarter in the previous year, the business posted $7.25 EPS. Meta Platforms's quarterly revenue was up 26.1% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 29.01 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were issued a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 21st. Meta Platforms's dividend payout ratio (DPR) is currently 7.16%.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: Meta made its Muse Voice AI available to U.S. users, including voice and video conversations with its consumer AI agent. Wider access could help the company build engagement with its AI products. Meta says US users can now video chat with their Muse AI avatar
• Positive Sentiment: Meta acquired Conductor, a startup that uses multiple AI agents to help build software projects, adding technology and talent to its AI development efforts. Meta acquires AI coding startup Conductor
• Neutral Sentiment: Meta completed a $15 billion senior-notes offering. Strong investor demand supports its ability to raise funds, but the borrowing adds to scrutiny of the cost of financing its AI expansion. Meta Platforms Completes $15 Billion Senior Notes Offering
• Negative Sentiment: Meta, Google and TikTok sued California’s attorney general to block a law restricting features considered addictive for users under 16. The legal challenge highlights continuing regulatory and litigation exposure around youth safety. Meta, Google, and TikTok sue California AG over teen social media law
• Negative Sentiment: Meta’s president warned that political and community opposition over data-center power and water use could make new facilities harder to build. That could complicate the infrastructure buildout needed to support AI growth. Meta warns election backlash against data centers could make AI expansion harder
• Negative Sentiment: Coverage of Meta’s debut euro bond sale pointed to borrowing costs above Alphabet’s, adding to investor concern about the expense of funding the company’s large AI spending plans. Meta Paid 1.4 Times What Alphabet Did to Borrow in Euros
• Negative Sentiment: Delhi Police filed a case concerning child sexual abuse material on Meta’s platforms after intervention by India’s child-rights authorities, creating potential reputational and legal risk. Child Abuse Material On Meta Platforms Flagged, Delhi Police Files FIR After NHRC Intervention

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. Barclays boosted their price target on Meta Platforms from $780.00 to $880.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Truist Financial raised their price objective on shares of Meta Platforms from $763.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Tuesday, October 13th. Cantor Fitzgerald lifted their price objective on shares of Meta Platforms from $840.00 to $860.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. UBS Group reiterated an "outperform" rating and set a $920.00 target price on shares of Meta Platforms in a research report on Thursday, October 22nd. Finally, Weiss Ratings raised shares of Meta Platforms from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $833.12.

About Meta Platforms

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company's principal platforms include Facebook, Instagram, Messenger, WhatsApp, and Threads, which enable users to connect, communicate, share content, and discover products and services.

Meta also operates Reality Labs, its division focused on virtual, augmented, and mixed reality technologies. Reality Labs develops products such as Meta Quest virtual reality headsets and related software and experiences, along with research and hardware intended to support immersive computing.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.