Evolutionary Tree Capital Management LLC Buys 1,022 Shares of Meta Platforms, Inc. (NASDAQ:META)

Evolutionary Tree Capital Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 19.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,391 shares of the social networking company’s stock after buying an additional 1,022 shares during the period. Meta Platforms accounts for approximately 3.3% of Evolutionary Tree Capital Management LLC’s holdings, making the stock its 12th biggest position. Evolutionary Tree Capital Management LLC’s holdings in Meta Platforms were worth $3,222,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC grew its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the second quarter valued at approximately $38,000. Finally, Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 365,761 shares of company stock valued at $190,846,038. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Up 0.5 %

Shares of META stock opened at $564.41 on Tuesday. The stock’s fifty day moving average is $507.58 and its two-hundred day moving average is $497.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 32.42, a PEG ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $573.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Research analysts expect that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on META shares. Tigress Financial lifted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Morgan Stanley raised their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Sanford C. Bernstein increased their price target on Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Wolfe Research began coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $525.00 price target on shares of Meta Platforms in a research note on Tuesday, July 30th. Two 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $578.92.

Meta Platforms 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.