Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Jackson Square Capital LLC

Jackson Square Capital LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 392.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,113 shares of the social networking company's stock after acquiring an additional 7,262 shares during the period. Meta Platforms accounts for approximately 1.7% of Jackson Square Capital LLC's investment portfolio, making the stock its 18th biggest holding. Jackson Square Capital LLC's holdings in Meta Platforms were worth $5,252,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in META. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC lifted its position in shares of Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares during the last quarter. Seelaus Asset Management LLC lifted its position in shares of Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning lifted its position in shares of Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares during the last quarter. Finally, Maiden Cove Capital LLC lifted its position in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META opened at $682.87 on Friday. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a 50-day moving average of $604.07 and a two-hundred day moving average of $619.60. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the company posted $4.71 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities research analysts expect 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 will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Pivotal Research cut their price objective on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. TD Securities cut their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup lifted their price objective on shares of Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Moffett Nathanson lifted their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $704.26.

Insider Buying and Selling

In related news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $607.50, for a total transaction of $369,360.00. Following the completion of the sale, the chief operating officer now directly owns 7,446 shares in the company, valued at approximately $4,523,445. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,201 shares of company stock worth $56,377,837. 13.61% of the stock is owned by company insiders.

Meta Platforms Company Profile

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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