Tortoise Investment Management LLC Sells 452 Shares of Meta Platforms, Inc. $META

Key Points

• Tortoise Investment Management LLC has reduced its stake in Meta Platforms, Inc. by 34.7%, selling 452 shares and holding a total of 851 shares valued at approximately $491,000.
• Meta Platforms reported Q2 earnings of $7.14 per share, significantly exceeding analysts' estimates of $5.75, with revenues reaching $47.52 billion.
• Institutional investors now own 79.91% of Meta's stock, reflecting strong interest in the company amidst various hedge funds adjusting their positions.

Tortoise Investment Management LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 34.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 851 shares of the social networking company's stock after selling 452 shares during the quarter. Tortoise Investment Management LLC's holdings in Meta Platforms were worth $491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms during the 1st quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Meta Platforms during the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in Meta Platforms during the first quarter valued at $33,000. JCIC Asset Management Inc. increased its position in Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after acquiring an additional 40 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $47,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META opened at $751.11 on Friday. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The business's fifty day simple moving average is $734.61 and its 200-day simple moving average is $658.77. The company has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.54 and a beta of 1.27.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The business's revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.16 EPS. Meta Platforms has set its Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on META. TD Securities lowered their target price on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Evercore ISI raised their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Oppenheimer raised their target price on shares of Meta Platforms from $775.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Citigroup restated an "outperform" rating on shares of Meta Platforms in a report on Thursday, July 31st. Finally, Rosenblatt Securities raised their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $822.41.

Insider Activity

In related news, CFO Susan J. Li sold 18,332 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $764.71, for a total transaction of $14,018,663.72. Following the completion of the sale, the chief financial officer directly owned 84,141 shares in the company, valued at $64,343,464.11. This represents a 17.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Javier Olivan sold 517 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $755.11, for a total value of $390,391.87. Following the transaction, the chief operating officer directly owned 12,611 shares in the company, valued at $9,522,692.21. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,803 shares of company stock worth $235,398,025 over the last ninety days. 13.61% of the stock is currently owned by corporate 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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