Krane Funds Advisors LLC Has $2.23 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Krane Funds Advisors LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 47.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,868 shares of the social networking company's stock after purchasing an additional 1,241 shares during the period. Meta Platforms makes up about 0.1% of Krane Funds Advisors LLC's holdings, making the stock its 22nd largest position. Krane Funds Advisors LLC's holdings in Meta Platforms were worth $2,229,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in META. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth $325,000. Brighton Jones LLC raised its stake in shares of 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 buying an additional 570 shares during the last quarter. Revolve Wealth Partners LLC raised its stake 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 buying an additional 875 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake in shares of Meta Platforms by 5.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock worth $1,989,000 after buying an additional 178 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in shares of 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 worth $129,666,000 after buying an additional 7,587 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the sale, the chief executive officer owned 118,279 shares of the company's stock, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,677 shares of company stock worth $105,221,340 in the last quarter. 13.61% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on META shares. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Wedbush boosted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Piper Sandler reiterated an "overweight" rating and set a $808.00 target price (up previously from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Benchmark decreased their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upped their price target on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $719.29.

Meta Platforms Price Performance

META stock traded down $0.66 during trading hours on Monday, hitting $718.35. 9,436,254 shares of the stock traded hands, compared to its average volume of 14,524,385. The stock has a 50-day simple moving average of $658.89 and a 200 day simple moving average of $630.28. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The company has a market cap of $1.81 trillion, a P/E ratio of 28.02, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter last year, the business posted $4.71 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

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.