Codex Capital Asset Management L.L.C. Sells 2,100 Shares of Meta Platforms, Inc. $META

Key Points

• Codex Capital Asset Management cut its Meta Platforms stake by 7.6% in the fourth quarter, selling 2,100 shares and leaving it with 25,500 shares worth about $16.8 million.
• Meta continues to draw strong interest from large investors overall, with 79.91% of shares held by institutional investors and hedge funds despite some recent trimming by individual funds.
• Wall Street remains broadly positive on Meta, with analysts assigning an average Moderate Buy rating and a consensus price target of $840.60, while the company also reported strong recent earnings and announced a quarterly dividend.

Codex Capital Asset Management L.L.C. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,500 shares of the social networking company's stock after selling 2,100 shares during the period. Meta Platforms makes up about 6.1% of Codex Capital Asset Management L.L.C.'s holdings, making the stock its 4th largest holding. Codex Capital Asset Management L.L.C.'s holdings in Meta Platforms were worth $16,832,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. First National Bank Sioux Falls lifted its stake in Meta Platforms by 0.7% during the fourth quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company's stock worth $1,321,000 after purchasing an additional 14 shares in the last quarter. Levin Capital Strategies L.P. raised its stake in shares of Meta Platforms by 1.4% in the fourth quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company's stock valued at $649,000 after acquiring an additional 14 shares in the last quarter. Vista Capital Partners Inc. raised its stake in shares of Meta Platforms by 1.3% in the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company's stock valued at $794,000 after acquiring an additional 14 shares in the last quarter. Arcataur Capital Management LLC raised its stake in shares of Meta Platforms by 0.9% in the fourth quarter. Arcataur Capital Management LLC now owns 1,736 shares of the social networking company's stock valued at $1,146,000 after acquiring an additional 15 shares in the last quarter. Finally, Acorn Creek Capital LLC raised its stake 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 valued at $1,398,000 after acquiring an additional 15 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

More Meta Platforms News

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

• Positive Sentiment: Meta’s new AI Mode in Facebook Search and related AI tools could open a new monetization stream and improve engagement across its apps. Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Positive Sentiment: Bank of America reiterated a Buy rating, saying Meta’s AI strategy remains a key growth catalyst. BofA Reiterates Buy Rating on Meta Platforms (META) Cites AI Strategy a Key Growth Catalyst
• Positive Sentiment: Threads reached 500 million monthly active users, highlighting continued platform growth and stronger user engagement. Meta's Threads reaches 500 million monthly users, rolls out new features
• Neutral Sentiment: Meta’s CTO said morale in the AI unit is near historic lows, which may reflect execution challenges even as the company doubles down on AI. Meta's CTO says morale is almost 'the worst it's ever been'
• Negative Sentiment: Apple’s upcoming AI-powered AirPods and smart glasses could intensify competition in the AI wearables market, potentially challenging Meta’s device strategy. Apple to launch AI-juiced AirPods and sunglasses, going head-to-head with Meta
• Negative Sentiment: Reports of consumer-protection lawsuits in Europe add another regulatory overhang for Meta. Consumer Protection: Three Chances for Damages from Meta Platforms

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Susquehanna upgraded Meta Platforms from a "positive" rating to a "positive" rating in a research note on Tuesday, June 2nd. Wolfe Research reduced their price objective on Meta Platforms from $850.00 to $800.00 and set an "outperform" rating on the stock in a research note on Friday, April 10th. Citizens Jmp reiterated a "market outperform" rating and issued a $900.00 price objective on shares of Meta Platforms in a research note on Tuesday, April 21st. Wedbush upgraded Meta Platforms from an "outperform" rating to a "neutral" rating in a research note on Tuesday, June 2nd. Finally, Guggenheim reduced their price objective on Meta Platforms from $850.00 to $800.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average price target of $840.60.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 2,778 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the transaction, the chief operating officer owned 10,557 shares of the company's stock, valued at $6,645,103.65. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 on 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 completion of the transaction, the insider directly owned 1,118 shares in the company, valued at $681,890.56. This trade represents a 65.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 39,170 shares of company stock worth $24,218,565. 13.53% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ:META opened at $600.21 on Wednesday. The firm has a market capitalization of $1.52 trillion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23. The business's fifty day moving average price is $622.04 and its 200 day moving average price is $635.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.Meta Platforms's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.43 earnings per share. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms's dividend payout ratio is 7.63%.

Meta Platforms Profile

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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