Jericho Capital Asset Management L.P. Sells 215,000 Shares of Meta Platforms, Inc. $META

Key Points

• Jericho Capital Asset Management L.P. reduced its stake in Meta Platforms by 35.1%, selling 215,000 shares and now holding 397,858 shares, valued at approximately $229.3 million.
• Multiple analysts have raised their price targets for Meta Platforms, with HSBC setting a new target of $900 and Wells Fargo increasing it to $811, indicating strong buy ratings from several firms.
• Meta Platforms reported strong quarterly results, with an EPS of $7.14 that exceeded expectations, and revenue of $47.52 billion, marking a 21.6% year-over-year growth.

Jericho Capital Asset Management L.P. cut its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 35.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,858 shares of the social networking company's stock after selling 215,000 shares during the period. Meta Platforms accounts for approximately 4.2% of Jericho Capital Asset Management L.P.'s investment portfolio, making the stock its 10th largest holding. Jericho Capital Asset Management L.P.'s holdings in Meta Platforms were worth $229,309,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after acquiring an additional 875 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Meta Platforms by 3.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after purchasing an additional 7,587 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in shares of Meta Platforms by 3.7% in the fourth quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock valued at $3,624,000 after buying an additional 218 shares during the last quarter. Finally, Triumph Capital Management raised its position in shares of Meta Platforms by 6.0% during the fourth quarter. Triumph Capital Management now owns 1,846 shares of the social networking company's stock worth $1,081,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 517 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $726.25, for a total transaction of $375,471.25. Following the completion of the sale, the chief operating officer directly owned 12,094 shares in the company, valued at approximately $8,783,267.50. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 18,332 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer owned 84,141 shares of the company's stock, valued at approximately $64,343,464.11. This trade represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 312,341 shares of company stock valued at $234,443,690 over the last quarter. Corporate insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Meta Platforms from $740.00 to $840.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Zacks Research cut Meta Platforms from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Canaccord Genuity Group upped their target price on Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Bank of America increased their target price on shares of Meta Platforms from $775.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, DA Davidson raised their price objective on shares of Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $822.41.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $3.80 during mid-day trading on Friday, reaching $752.45. 9,655,823 shares of the company were exchanged, compared to its average volume of 9,390,477. The company's 50 day moving average price is $738.39 and its 200 day moving average price is $659.06. The stock has a market capitalization of $1.89 trillion, a PE ratio of 27.24, a PEG ratio of 1.55 and a beta of 1.24. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15.

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