TD Asset Management Inc Reduces Position in Meta Platforms, Inc. $META

Key Points

• TD Asset Management cut its Meta position by 20.6% in the second quarter, selling 514,243 shares and retaining 1.98 million shares worth approximately $1.11 billion. Institutional investors still own 79.91% of Meta’s outstanding stock.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $785.22, although several firms recently lowered their targets.
• Meta’s latest quarterly revenue rose 28% year over year to $60.8 billion, exceeding estimates, while earnings per share of $6.18 fell short of the $7.19 consensus forecast. Insiders have also sold 32,987 shares worth about $19.2 million over the past 90 days.

TD Asset Management Inc decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,979,128 shares of the social networking company's stock after selling 514,243 shares during the period. Meta Platforms comprises approximately 1.0% of TD Asset Management Inc's holdings, making the stock its 25th largest position. TD Asset Management Inc owned about 0.08% of Meta Platforms worth $1,114,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. Brighton Jones LLC increased its position in Meta Platforms by 1.7% in the fourth 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 in the last quarter. Revolve Wealth Partners LLC lifted its position 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 valued at $5,537,000 after buying an additional 875 shares in the last quarter. Headwater Capital Co Ltd grew its stake in shares of Meta Platforms by 294.7% during the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company's stock valued at $86,454,000 after acquiring an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. bought a new position in shares of Meta Platforms during the 2nd quarter valued at approximately $213,000. Finally, Capital & Planning LLC purchased a new stake in Meta Platforms in the 2nd quarter worth approximately $322,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Meta Platforms from $815.00 to $725.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Raymond James Financial upped their price objective on Meta Platforms from $825.00 to $850.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 21st. TD Cowen cut their target price on Meta Platforms from $800.00 to $750.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Guggenheim reissued a "buy" rating and set a $800.00 target price on shares of Meta Platforms in a research note on Tuesday, July 28th. Finally, Wolfe Research restated an "outperform" rating and issued a $700.00 price target on shares of Meta Platforms in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $785.22.

Insider Buying and Selling at Meta Platforms

In related news, insider Curtis Mahoney sold 1,559 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $869,922.00. Following the completion of the transaction, the insider directly owned 1,957 shares of the company's stock, valued at approximately $1,092,006. This trade represents a 44.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 3,348 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $600.97, for a total transaction of $2,012,047.56. Following the sale, the chief operating officer directly owned 9,498 shares in the company, valued at approximately $5,708,013.06. The trade was a 26.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 32,987 shares of company stock valued at $19,202,995. 13.53% of the stock is owned by company insiders.

More Meta Platforms News

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

• Positive Sentiment: Meta opened paid developer access to Muse Spark 1.3, with company executives and analysts claiming the model is approaching or matching offerings from Anthropic and OpenAI. Improved performance and token efficiency could support adoption in coding agents, model APIs, subscriptions and future generative-search advertising. Meta Platforms: Muse Spark 1.3 Was The Warning Shot
• Positive Sentiment: Recent coverage identifies Muse Spark 1.3 as a new catalyst that could improve confidence in Meta’s AI roadmap and help the company recover toward its prior highs, provided the technology translates into revenue and returns on investment. Meta Rises 4% as Muse Spark 1.3 Claims Parity with Anthropic and OpenAI
• Positive Sentiment: Some investment commentary views Meta as a major beneficiary of the ongoing AI infrastructure and computing cycle, alongside other hyperscalers, potentially creating a long-term growth opportunity. Hyperscalers Are the Backbone of AI

Meta Platforms Price Performance

NASDAQ:META opened at $616.77 on Friday. The business's 50-day moving average is $596.16 and its 200 day moving average is $609.26. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $790.80. The company has a market capitalization of $1.57 trillion, a P/E ratio of 23.23, a P/E/G ratio of 1.06 and a beta of 1.25. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $7.19 by ($1.01). Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The firm had revenue of $60.80 billion for the quarter, compared to analysts' expectations of $60.22 billion. During the same quarter in the prior year, the business earned $7.14 EPS. The business's quarterly revenue was up 28.0% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 28.17 earnings per share for the current fiscal year.

Meta Platforms Company 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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