Convergence Investment Partners LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 74.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,510 shares of the social networking company's stock after buying an additional 7,494 shares during the period. Meta Platforms comprises approximately 0.9% of Convergence Investment Partners LLC's holdings, making the stock its 14th largest position. Convergence Investment Partners LLC's holdings in Meta Platforms were worth $9,863,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First National Bank Sioux Falls raised its stake in Meta Platforms by 0.7% during the 4th quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company's stock worth $1,321,000 after acquiring an additional 14 shares during the period. Levin Capital Strategies L.P. lifted its stake in Meta Platforms by 1.4% in the 4th quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company's stock worth $649,000 after purchasing an additional 14 shares in the last quarter. Vista Capital Partners Inc. boosted its stake in Meta Platforms by 1.3% during the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company's stock valued at $794,000 after buying an additional 14 shares during the last quarter. Acorn Creek Capital LLC boosted its position in shares of Meta Platforms by 0.7% during the 4th 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 during the last quarter. Finally, Objective Capital Management LLC lifted its position in Meta Platforms by 2.8% during the fourth quarter. Objective Capital Management LLC now owns 553 shares of the social networking company's stock valued at $365,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Wedbush cut their price target on shares of Meta Platforms from $671.00 to $595.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Meta Platforms from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Monness Crespi & Hardt decreased their price objective on Meta Platforms from $890.00 to $730.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Rosenblatt Securities boosted their price target on Meta Platforms from $883.00 to $886.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, UBS Group cut their target price on Meta Platforms from $766.00 to $715.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $785.22.
Check Out Our Latest Stock Analysis on META
Meta Platforms Stock Performance
NASDAQ META opened at $578.02 on Monday. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $790.80. The stock has a market cap of $1.47 trillion, a PE ratio of 21.77, a P/E/G ratio of 1.00 and a beta of 1.25. The stock has a fifty day simple moving average of $592.28 and a 200-day simple moving average of $611.14. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $7.19 by ($1.01). The business had revenue of $60.80 billion for the quarter, compared to analysts' expectations of $60.22 billion. Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.Meta Platforms's quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the company earned $7.14 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 28.17 earnings per share for the current year.
Insider Activity at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 9,196 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total transaction of $5,063,409.56. Following the completion of the sale, the chief financial officer directly owned 13,186 shares of the company's stock, valued at $7,260,343.46. This represents a 41.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of Meta Platforms stock in a transaction that occurred on 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 completion of the sale, the chief technology officer directly owned 828 shares in the company, valued at $462,024. This represents a 90.46% 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 three months, insiders have sold 32,987 shares of company stock worth $19,202,995. Insiders own 13.53% of the company's stock.
Trending Headlines about Meta Platforms
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: The settlement limits litigation risk by resolving claims from a broad coalition of states without an admission of liability. Analysts view the payment as manageable relative to Meta’s revenue and cash generation, while the company avoids potentially disruptive court-ordered changes to products such as Reels, Stories and its recommendation systems. Meta's social media settlement leaves its money machine unscathed
- Positive Sentiment: Meta’s advertising engine continues to benefit from improved ad-ranking technology and growing advertiser use of artificial intelligence to create campaigns, supporting demand even as the company spends heavily on AI infrastructure. Ca$htag$: Meta's AI Bet Not Showing Returns, Yet
- Positive Sentiment: Rosenblatt raised its price target to $886 and maintained a buy rating, pointing to substantial potential upside from current levels. The stock’s valuation also remains below that of many large technology peers, strengthening the bargain argument for some investors. Meta price target raised by Rosenblatt
- Neutral Sentiment: The new teen safeguards—including time limits, muted notifications and stronger parental controls—could become a regulatory template for TikTok, YouTube, Snap and international markets. This creates industrywide compliance costs, but may also give Meta greater legal clarity. Meta settlement puts social media industry on notice
- Negative Sentiment: Investors still face execution and financial risks: age-verification technology may be unreliable, critics say the protections do not address teen mental-health concerns, and regulators in the U.K., South Korea and elsewhere may demand similar measures. Restrictions could eventually reduce teen engagement and advertising opportunities. Meta's child-safety deal and age verification
- Negative Sentiment: Meta’s substantial AI capital spending has not yet produced a proportionate revenue payoff, while an executive overseeing India and Southeast Asia is leaving for OpenAI. Those developments add to concerns about returns on investment and management stability. Meta executive leaves for OpenAI
Meta Platforms Company 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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