Xn LP Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Xn LP purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 126,724 shares of the social networking company’s stock, valued at approximately $63,897,000. Meta Platforms makes up 2.7% of Xn LP’s investment portfolio, making the stock its 16th largest position.

Several other institutional investors have also recently made changes to their positions in the company. Baird Financial Group Inc. increased its holdings in shares of Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after buying an additional 163,067 shares during the last quarter. California State Teachers Retirement System increased its stake in Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after acquiring an additional 51,900 shares during the last quarter. Voyager Global Management LP raised its position in Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after purchasing an additional 140,000 shares in the last quarter. Gradient Investments LLC lifted its stake in Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in shares of Meta Platforms by 14.0% in the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after purchasing an additional 748,076 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the transaction, the insider now owns 36,912 shares in the company, valued at approximately $19,848,320.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the transaction, the insider now directly owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $520.57, for a total value of $214,995.41. Following the completion of the transaction, the chief operating officer now owns 13,185 shares of the company’s stock, valued at approximately $6,863,715.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 356,426 shares of company stock valued at $185,053,425. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Citigroup raised their price objective on Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Robert W. Baird increased their target price on shares of Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Wolfe Research assumed coverage on Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Stock Up 0.4 %

Shares of Meta Platforms stock opened at $561.35 on Friday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $564.50. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.26 and a beta of 1.21. The company has a 50-day moving average of $506.33 and a 200 day moving average of $496.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the firm earned $3.23 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.