Meta Platforms, Inc. $META Shares Sold by CastleKnight Management LP

Key Points

• CastleKnight Management LP cut its Meta Platforms stake by 32.5% in the fourth quarter, selling 30,690 shares and leaving it with 63,880 shares valued at about $42.2 million.
• Institutional ownership remains high, with 79.91% of Meta shares held by institutions and hedge funds. Several analysts also reiterated or adjusted bullish ratings, and the consensus target price is $840.60.
• Meta reported strong quarterly results, with EPS of $10.44 versus estimates of $6.67 and revenue of $56.31 billion, up 33.1% year over year. The company also announced a quarterly dividend of $0.525 per share.

CastleKnight Management LP trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 32.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,880 shares of the social networking company's stock after selling 30,690 shares during the period. Meta Platforms comprises about 0.9% of CastleKnight Management LP's investment portfolio, making the stock its 7th largest holding. CastleKnight Management LP's holdings in Meta Platforms were worth $42,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westchester Capital Management Inc. bought a new stake in shares of Meta Platforms in the third quarter valued at about $26,000. RHL Group LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $29,000. Niles Investment Management LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $29,000. Finally, Key Capital Management INC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $48,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the topic of a number of research reports. Truist Financial cut their price target on Meta Platforms from $900.00 to $840.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Benchmark initiated coverage on Meta Platforms in a report on Tuesday, June 2nd. They issued a "buy" rating on the stock. Mizuho dropped their target price on Meta Platforms from $850.00 to $835.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. KeyCorp reissued an "overweight" rating and set a $760.00 price target on shares of Meta Platforms in a research report on Thursday, April 30th. Finally, Raymond James Financial raised Meta Platforms from an "underperform" rating to an "outperform" rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $840.60.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the transaction, the chief technology officer owned 414 shares in the company, valued at approximately $251,641.62. This trade represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total value of $5,589,088.80. Following the transaction, the chief financial officer owned 13,186 shares in the company, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 40,568 shares of company stock worth $25,057,365 in the last ninety days. 13.53% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

NASDAQ:META opened at $567.58 on Thursday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock's 50 day moving average price is $621.93 and its two-hundred day moving average price is $635.05. The firm has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.06 and a beta of 1.23. 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 announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts' consensus estimates of $6.67 by $3.77. The company 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%.The firm's quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the company earned $6.43 earnings per share. On average, analysts anticipate that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. Meta Platforms's dividend payout ratio (DPR) is 7.63%.

Trending Headlines about Meta Platforms

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

• Positive Sentiment: Meta said Threads has reached 500 million monthly active users, while new community features and feed controls could improve engagement and strengthen the long-term value of its social platform. Reuters: Meta's Threads reaches 500 million monthly users, rolls out new features
• Positive Sentiment: Meta rolled out AI search and creative tools across Facebook, which analysts say could open a new monetization opportunity and support future ad growth. Proactive Investors: Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Positive Sentiment: Bank of America reiterated a Buy view on Meta, citing AI strategy as a key growth catalyst, which may help support investor confidence in the company’s long-term earnings potential. Insider Monkey: BofA reiterates Buy rating on Meta Platforms
• Neutral Sentiment: Meta is expected to pay its next quarterly dividend next week, a routine shareholder return that is supportive but unlikely to be a major near-term stock driver. Finbold: Meta to pay dividends next week
• Negative Sentiment: Reuters reported that a Meta executive overseeing part of the company’s AI-for-work restructuring is leaving, adding to concerns about execution during a major AI transition. Reuters: Meta head of product for 'AI for work' transformation is leaving company
• Negative Sentiment: Two SEC filings showed COO Javier Olivan sold shares under a pre-arranged 10b5-1 plan, which can still weigh on sentiment even though the sales were scheduled. SEC filing for Javier Olivan transaction
• Negative Sentiment: Recent commentary has also focused on Meta’s heavy AI spending, Reality Labs losses, and valuation concerns, reinforcing fears that profit growth could slow if investment remains elevated. Zacks: Meta Platforms is Overvalued at 5.5X PS

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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