Contour Asset Management LLC Acquires New Position in Meta Platforms, Inc. $META

Contour Asset Management LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 119,500 shares of the social networking company's stock, valued at approximately $68,875,000. Meta Platforms comprises approximately 2.7% of Contour Asset Management LLC's holdings, making the stock its 14th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lantern Wealth Advisors LLC increased its holdings in Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after buying an additional 14 shares during the last quarter. ABLE Financial Group LLC increased its holdings in Meta Platforms by 0.7% in the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock valued at $1,251,000 after buying an additional 15 shares during the last quarter. Cedar Point Capital Partners LLC increased its holdings in Meta Platforms by 2.2% in the first quarter. Cedar Point Capital Partners LLC now owns 752 shares of the social networking company's stock valued at $433,000 after buying an additional 16 shares during the last quarter. Mosaic Family Wealth Partners LLC increased its holdings in Meta Platforms by 1.2% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock valued at $840,000 after buying an additional 17 shares during the last quarter. Finally, Orin Green Financial LLC boosted its stake in Meta Platforms by 2.2% in the fourth quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock valued at $465,000 after acquiring an additional 17 shares during the period. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on META shares. Robert W. Baird lifted their target price on Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Sanford C. Bernstein lifted their target price on Meta Platforms from $775.00 to $900.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Oppenheimer lifted their target price on Meta Platforms from $775.00 to $870.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Zacks Research downgraded Meta Platforms from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, HSBC upgraded Meta Platforms from a "hold" rating to a "buy" rating and lifted their target price for the company from $610.00 to $900.00 in a research note on Thursday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $822.41.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $750.47, for a total value of $389,493.93. Following the transaction, the insider owned 32,427 shares of the company's stock, valued at approximately $24,335,490.69. This represents a 1.58% 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. Also, CFO Susan J. Li sold 18,332 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $764.71, for a total value of $14,018,663.72. Following the completion of the transaction, the chief financial officer directly owned 84,141 shares in the company, valued at $64,343,464.11. This represents a 17.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,767 shares of company stock valued at $234,716,347 over the last 90 days. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $738.70 on Tuesday. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The company has a market cap of $1.86 trillion, a PE ratio of 26.75, a P/E/G ratio of 1.53 and a beta of 1.24. The stock has a 50 day simple moving average of $736.54 and a 200-day simple moving average of $657.96. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.

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

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.

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