Titan Global Capital Management USA LLC Has $23.82 Million Stock Position in Meta Platforms, Inc. $META

Key Points

• Titan Global Capital Management USA LLC increased its Meta Platforms stake by 3.7% in the first quarter, adding 1,494 shares to reach 41,626 shares valued at about $23.82 million.
• Meta’s recent earnings beat expectations, with $10.44 EPS versus $6.67 expected and revenue of $56.31 billion, up 33.1% from a year ago.
• Analyst sentiment remains broadly positive, with a Moderate Buy consensus and an average price target of $835.64, even as some firms trimmed their targets slightly.

Titan Global Capital Management USA LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,626 shares of the social networking company's stock after purchasing an additional 1,494 shares during the period. Meta Platforms comprises about 3.5% of Titan Global Capital Management USA LLC's investment portfolio, making the stock its 12th biggest position. Titan Global Capital Management USA LLC's holdings in Meta Platforms were worth $23,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RHL Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $29,000. Niles Investment Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $29,000. Bayban raised its position in Meta Platforms by 100.0% in the 1st quarter. Bayban now owns 70 shares of the social networking company's stock worth $40,000 after purchasing an additional 35 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $42,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms News Roundup

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

• Positive Sentiment: A new free verification badge system for Facebook users, which may improve trust and platform quality. Fast Company article
• Positive Sentiment: A dedicated Marketplace seller app with tools for merchants, aimed at making Facebook commerce more useful and organized. Reuters article
• Positive Sentiment: Wall Street commentary remained constructive, with articles highlighting Meta as a strong momentum stock and a potentially attractive AI-era value name.
• Positive Sentiment: Analyst sentiment stayed favorable, including a report that Wells Fargo raised its price target on Meta to $835.00.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus reduced their price objective on Meta Platforms from $805.00 to $780.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Needham & Company LLC reissued a "hold" rating on shares of Meta Platforms in a research note on Wednesday, July 8th. BNP Paribas Exane began coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set an "outperform" rating for the company. Roth Capital reaffirmed a "buy" rating on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, UBS Group decreased their price target on Meta Platforms from $865.00 to $766.00 and set a "buy" rating on the stock in a report on Monday, July 13th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $835.64.

Meta Platforms Trading Down 1.8%

NASDAQ:META opened at $595.19 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The firm has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.01 and a beta of 1.25. The business's 50-day moving average price is $604.51 and its two-hundred day moving average price is $625.76.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly 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. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company had revenue of $56.31 billion for the quarter, compared to analysts' expectations of $55.56 billion. During the same period last year, the firm posted $6.43 earnings per share. The business's quarterly revenue was up 33.1% compared to the same quarter last year. On average, equities analysts expect that Meta Platforms, Inc. will post 29.49 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were given a $0.525 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms's payout ratio is currently 7.63%.

Insider Buying and Selling

In other Meta Platforms news, insider Curtis J. Mahoney sold 2,079 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the sale, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. This trade represents a 65.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 3,348 shares of Meta Platforms stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 37,948 shares of company stock valued at $23,184,319. 13.53% of the stock is owned by corporate insiders.

About Meta Platforms

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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