Boomfish Wealth Group LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 31.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,343 shares of the social networking company's stock after buying an additional 1,531 shares during the quarter. Meta Platforms accounts for about 1.6% of Boomfish Wealth Group LLC's investment portfolio, making the stock its 17th largest position. Boomfish Wealth Group LLC's holdings in Meta Platforms were worth $3,573,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in META. Auto Owners Insurance Co grew its position in shares of Meta Platforms by 76,587.7% during the 4th quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company's stock valued at $69,502,379,000 after acquiring an additional 105,154,977 shares during the period. Norges Bank purchased a new stake in shares of Meta Platforms in the 4th quarter worth $22,152,075,000. Vanguard Group Inc. raised its holdings in Meta Platforms by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company's stock worth $132,015,115,000 after purchasing an additional 7,269,279 shares during the period. Corient Private Wealth LLC raised its holdings in Meta Platforms by 488.1% in the 4th quarter. Corient Private Wealth LLC now owns 5,466,595 shares of the social networking company's stock worth $3,608,445,000 after purchasing an additional 4,537,076 shares during the period. Finally, State Street Corp lifted its position in Meta Platforms by 5.1% during the fourth quarter. State Street Corp now owns 90,841,345 shares of the social networking company's stock valued at $59,963,463,000 after purchasing an additional 4,395,763 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.
Trending Headlines about Meta Platforms
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta unveiled Muse Spark 1.3, an upgraded AI model that AI chief Alexandr Wang says delivers the company’s biggest performance improvement yet and is comparable with offerings from Anthropic and OpenAI. The announcement strengthened expectations that Meta can compete more effectively in generative AI and monetize its large user base. Meta Rises 4% as Muse Spark 1.3 Claims Parity With Anthropic and OpenAI
- Positive Sentiment: Analysts said Meta’s settlement of major social-media litigation could remove a legal overhang and accelerate the launch of new AI products. Some investors view the settlement as manageable relative to Meta’s scale and believe teen-usage restrictions may have limited revenue impact. Meta settlement could clear the way for new AI product launches, Morgan Stanley says
- Positive Sentiment: Investment commentary highlighted Meta as one of the leading “hyperscalers” supporting the AI ecosystem, with strong revenue growth, user engagement and long-term AI monetization potential. Hyperscalers are the backbone of AI
- Neutral Sentiment: Wedbush reaffirmed its Neutral rating, signaling that the AI opportunity is balanced by valuation, execution and spending concerns. Wedbush Reaffirms Neutral Rating for Meta Platforms
- Negative Sentiment: Meta reportedly agreed to pay as much as $17 billion over 10 years and make major changes to Instagram and Facebook for teen users. The settlement may reduce legal uncertainty, but its cost and potential limits on engagement create financial and operating risks. Meta Is Making These Major Changes for Teen Users After $17 Billion Settlement
- Negative Sentiment: Commentary warned that AI infrastructure spending could approach $145 billion, compressing free cash flow even as revenue grows. Investors also remain concerned about Meta’s dependence on successful AI execution to justify a recovery toward its prior high. Meta Stock Has a New AI Catalyst
- Negative Sentiment: Meta is paying users to share how they use its latest AI model, raising privacy and reputational concerns that could complicate adoption. Separately, the company disabled cameras on some AI glasses after detecting tampering with recording lights. Meta is paying to peek at how you use their latest AI model
Insider Transactions at Meta Platforms
In related news, insider Curtis Mahoney sold 1,559 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total value of $869,922.00. Following the sale, the insider directly owned 1,957 shares in the company, valued at approximately $1,092,006. The trade was a 44.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan Li sold 9,196 shares of the stock in a transaction that occurred on 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 directly owned 13,186 shares of the company's stock, valued at approximately $7,260,343.46. The trade was a 41.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 32,987 shares of company stock valued at $19,202,995. 13.53% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $810.00 price target on shares of Meta Platforms in a report on Monday, June 1st. TD Cowen lowered their price objective on Meta Platforms from $800.00 to $750.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Piper Sandler reaffirmed an "overweight" rating and set a $785.00 price objective (down from $800.00) on shares of Meta Platforms in a research report on Thursday, July 30th. Mizuho set a $750.00 target price on shares of Meta Platforms in a report on Thursday, July 30th. Finally, Benchmark restated a "hold" rating on shares of Meta Platforms in a research note on Thursday, August 27th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $785.22.
Read Our Latest Report on Meta Platforms
Meta Platforms Stock Performance
Shares of NASDAQ META opened at $610.68 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $1.56 trillion, a P/E ratio of 23.00, a P/E/G ratio of 1.02 and a beta of 1.25. The firm's fifty day moving average is $594.83 and its two-hundred day moving average is $609.21. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $790.80.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 EPS for the quarter, missing the consensus estimate of $7.19 by ($1.01). Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The company had revenue of $60.80 billion during the quarter, compared to analysts' expectations of $60.22 billion. During the same quarter in the previous year, the firm earned $7.14 EPS. The firm's revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 28.17 EPS for the current fiscal year.
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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