Jasper Ridge Partners L.P. Has $6.21 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Jasper Ridge Partners L.P. lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,610 shares of the social networking company's stock after selling 4,392 shares during the period. Jasper Ridge Partners L.P.'s holdings in Meta Platforms were worth $6,212,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Regent Peak Wealth Advisors LLC increased its position in shares of Meta Platforms by 5.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock valued at $2,939,000 after buying an additional 277 shares in the last quarter. RMR Wealth Builders lifted its holdings in Meta Platforms by 4.9% during the fourth quarter. RMR Wealth Builders now owns 11,830 shares of the social networking company's stock valued at $6,927,000 after purchasing an additional 556 shares in the last quarter. Czech National Bank lifted its position in shares of Meta Platforms by 6.3% in the fourth quarter. Czech National Bank now owns 472,992 shares of the social networking company's stock valued at $276,942,000 after acquiring an additional 27,940 shares in the last quarter. Paragon Advisors LLC grew its holdings in Meta Platforms by 10.6% in the 4th quarter. Paragon Advisors LLC now owns 7,787 shares of the social networking company's stock valued at $4,559,000 after buying an additional 749 shares in the last quarter. Finally, Aprio Wealth Management LLC increased its stake in shares of Meta Platforms by 44.1% in the 4th quarter. Aprio Wealth Management LLC now owns 4,065 shares of the social networking company's stock worth $2,380,000 after acquiring an additional 1,245 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on META. Oppenheimer upped their price objective on shares of Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. TD Securities lowered their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Royal Bank of Canada reiterated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Arete Research upgraded shares of Meta Platforms to a "hold" rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $696.45.

Meta Platforms Price Performance

META traded up $14.74 during trading on Tuesday, hitting $654.17. The company's stock had a trading volume of 4,770,724 shares, compared to its average volume of 14,459,822. The firm's 50 day moving average price is $568.53 and its two-hundred day moving average price is $605.22. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.71 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a $0.525 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.32%. Meta Platforms's dividend payout ratio is presently 8.19%.

Insider Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,060 shares of the firm's stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the transaction, the chief technology officer now directly owns 5,139 shares of the company's stock, valued at approximately $3,785,747.13. This trade represents a 49.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the sale, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. This trade represents a 14.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,992 shares of company stock valued at $82,831,650 in the last 90 days. 13.71% of the stock is currently owned by company insiders.

About Meta Platforms

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.