Ratan Capital Management LP Has $26.82 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Ratan Capital Management LP lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 47.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,806 shares of the social networking company's stock after buying an additional 14,760 shares during the period. Meta Platforms comprises about 4.1% of Ratan Capital Management LP's holdings, making the stock its 8th largest position. Ratan Capital Management LP's holdings in Meta Platforms were worth $26,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Ballentine Partners LLC lifted its holdings in Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after acquiring an additional 808 shares during the period. UMB Bank n.a. lifted its holdings in Meta Platforms by 0.6% during the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after acquiring an additional 897 shares during the period. Brueske Advisory Services LLC bought a new stake in Meta Platforms during the fourth quarter worth $459,000. Apollon Financial LLC lifted its holdings in Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock worth $866,000 after acquiring an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its holdings in Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 8,553 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total value of $677,920.47. Following the completion of the transaction, the insider now owns 35,787 shares of the company's stock, valued at $26,341,737.09. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 81,171 shares of company stock worth $55,161,016. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Meta Platforms stock traded down $3.54 during midday trading on Friday, hitting $640.34. 18,351,566 shares of the company's stock were exchanged, compared to its average volume of 14,531,359. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The stock has a 50-day moving average price of $571.37 and a two-hundred day moving average price of $606.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market cap of $1.62 trillion, a P/E ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24.

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

Analysts Set New Price Targets

A number of brokerages recently commented on META. KeyCorp lifted their price target on Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Wells Fargo & Company lowered their target price on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Arete Research upgraded Meta Platforms to a "hold" rating in a research note on Friday, January 24th. Citigroup boosted their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Barclays lowered their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. 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 issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

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.