Altimeter Capital Management LP Cuts Holdings in Meta Platforms, Inc. $META

Key Points

• Altimeter Capital Management LP decreased its holdings in Meta Platforms, Inc. by 0.4%, owning approximately $1.06 billion worth of shares, making it the largest position in their portfolio at 21.3%.
• Several analysts have raised their price targets for Meta Platforms, with BMO Capital Markets increasing their target from $610 to $710, while Monness Crespi & Hardt set theirs at $860, reflecting a positive outlook on the stock.
• Meta reported a Q2 EPS of $7.14, significantly surpassing the consensus estimate of $5.75, with revenue reaching $47.52 billion, marking a 21.6% increase compared to the previous year.

Altimeter Capital Management LP reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,835,636 shares of the social networking company's stock after selling 6,550 shares during the period. Meta Platforms makes up about 21.3% of Altimeter Capital Management LP's investment portfolio, making the stock its largest position. Altimeter Capital Management LP owned approximately 0.07% of Meta Platforms worth $1,057,987,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of META. GAMMA Investing LLC grew its holdings in Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares during the period. Nuveen LLC acquired a new position in Meta Platforms during the first quarter worth about $2,990,544,000. Assenagon Asset Management S.A. grew its holdings in Meta Platforms by 712.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock worth $1,462,589,000 after acquiring an additional 2,225,186 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Meta Platforms during the fourth quarter worth about $1,162,918,000. Finally, Amundi increased its stake in Meta Platforms by 23.5% in the 1st quarter. Amundi now owns 7,733,061 shares of the social networking company's stock worth $4,111,050,000 after purchasing an additional 1,470,070 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.5%

Shares of Meta Platforms stock traded up $3.80 during trading on Friday, hitting $752.45. 9,655,823 shares of the stock traded hands, compared to its average volume of 9,390,477. The stock has a market cap of $1.89 trillion, a P/E ratio of 27.24, a PEG ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The company has a fifty day moving average price of $738.39 and a two-hundred day moving average price of $659.37.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $1.39. The business had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The firm's revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the company earned $5.16 EPS. Meta Platforms has set its Q3 2025 guidance at EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other news, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $784.32, for a total transaction of $364,708.80. Following the completion of the sale, the director directly owned 8,877 shares in the company, valued at $6,962,408.64. The trade was a 4.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $726.25, for a total value of $375,471.25. Following the sale, the chief operating officer owned 12,094 shares of the company's stock, valued at approximately $8,783,267.50. This represents a 4.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 312,341 shares of company stock worth $234,443,690 over the last quarter. Insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the topic of a number of analyst reports. Scotiabank lifted their price target on Meta Platforms from $675.00 to $685.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Bank of America lifted their price target on Meta Platforms from $775.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Cantor Fitzgerald reissued an "overweight" rating and issued a $920.00 price target on shares of Meta Platforms in a research note on Wednesday, August 13th. Sanford C. Bernstein lifted their price target on Meta Platforms from $775.00 to $900.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $822.41.

About Meta Platforms

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.