Copperwynd Financial LLC Sells 998 Shares of Meta Platforms, Inc. (NASDAQ:META)

Copperwynd Financial LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,216 shares of the social networking company’s stock after selling 998 shares during the period. Meta Platforms comprises 1.1% of Copperwynd Financial LLC’s holdings, making the stock its 18th biggest holding. Copperwynd Financial LLC’s holdings in Meta Platforms were worth $3,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baird Financial Group Inc. boosted its stake in shares of Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares during the period. California State Teachers Retirement System boosted its position in Meta Platforms by 1.5% in the 4th 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 buying an additional 51,900 shares during the period. Voyager Global Management LP grew its stake in Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares in the last quarter. Gradient Investments LLC increased its position in shares of 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 acquiring an additional 5,953 shares during the period. Finally, Baillie Gifford & Co. raised its stake in shares of Meta Platforms by 14.0% during the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after acquiring an additional 748,076 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,358 shares of company stock worth $179,431,101. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several research analyst reports. Jefferies Financial Group increased their price objective on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Guggenheim raised their price target on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Citigroup boosted their price target on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $591.23.

Meta Platforms Stock Down 0.1 %

META stock opened at $567.36 on Friday. The company has a market capitalization of $1.44 trillion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $577.40. The firm’s fifty day simple moving average is $516.19 and its 200-day simple moving average is $499.60. 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 quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $38.26 billion. During the same period last year, the firm earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is presently 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.