Meta Platforms, Inc. $META Holdings Lessened by Palestra Capital Management LLC

Key Points

• Palestra Capital Management LLC reduced its holdings in Meta Platforms, Inc. by 1.1%, now controlling 433,324 shares valued at approximately $249.75 million, making it the second largest position in their portfolio.
• Significant investments in Meta were made by several other institutional investors, with GAMMA Investing LLC increasing its holdings by an astounding 67,172.9% during the same period.
• Meta Platforms reported earnings of $7.14 EPS for the last quarter, surpassing expectations and showing a revenue increase of 21.6% year-over-year, leading analysts to raise their price targets for the stock significantly.

Palestra Capital Management LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 433,324 shares of the social networking company's stock after selling 4,738 shares during the quarter. Meta Platforms comprises approximately 9.8% of Palestra Capital Management LLC's portfolio, making the stock its 2nd biggest position. Palestra Capital Management LLC's holdings in Meta Platforms were worth $249,751,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms during the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Meta Platforms in the 1st quarter worth approximately $33,000. JCIC Asset Management Inc. lifted its stake in shares of Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares during the period. Finally, Stuart Chaussee & Associates Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $47,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 1.8%

Meta Platforms stock traded up $13.40 during trading hours on Tuesday, hitting $765.70. The stock had a trading volume of 10,590,497 shares, compared to its average volume of 14,841,935. The stock's 50-day moving average price is $738.68 and its 200-day moving average price is $659.29. The stock has a market capitalization of $1.92 trillion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month 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 announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm's quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the firm earned $5.16 earnings per share. Meta Platforms has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Meta Platforms news, Director Robert M. Kimmitt sold 465 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $784.32, for a total value of $364,708.80. Following the completion of the transaction, the director owned 8,877 shares of the company's stock, valued at approximately $6,962,408.64. The trade was a 4.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,694 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $775.00, for a total transaction of $9,062,850.00. Following the transaction, the chief technology officer directly owned 1,799 shares of the company's stock, valued at $1,394,225. The trade was a 86.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,046 shares of company stock worth $218,812,787. 13.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on META. Citizens Jmp upped their price target on Meta Platforms from $750.00 to $900.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $780.00 to $860.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Loop Capital reiterated a "buy" rating and issued a $980.00 price target (up from $888.00) on shares of Meta Platforms in a research note on Tuesday, August 5th. Hsbc Global Res raised shares of Meta Platforms from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus upped their price objective on shares of Meta Platforms from $845.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $822.41.

Meta Platforms 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.