Atika Capital Management LLC Has $28.05 Million Position in Meta Platforms, Inc. $META

Atika Capital Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 100.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,000 shares of the social networking company’s stock after buying an additional 18,999 shares during the quarter. Meta Platforms makes up 2.8% of Atika Capital Management LLC’s portfolio, making the stock its 11th largest position. Atika Capital Management LLC’s holdings in Meta Platforms were worth $28,047,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in META. Kingstone Capital Partners Texas LLC lifted its position in shares of Meta Platforms by 608,429.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after purchasing an additional 59,766,000 shares in the last quarter. Laurel Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 73,443.1% in the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock valued at $6,212,506,000 after purchasing an additional 8,405,558 shares in the last quarter. Nuveen LLC bought a new position in Meta Platforms in the 1st quarter worth approximately $2,990,544,000. Vanguard Group Inc. lifted its holdings in Meta Platforms by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock worth $142,149,566,000 after buying an additional 1,532,568 shares in the last quarter. Finally, Amundi lifted its holdings in Meta Platforms by 23.5% during the 1st quarter. Amundi now owns 7,733,061 shares of the social networking company’s stock worth $4,111,050,000 after buying an additional 1,470,070 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the sale, the director directly owned 7,347 shares in the company, valued at $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total value of $6,935,793.90. Following the sale, the chief technology officer directly owned 2,415 shares in the company, valued at approximately $1,432,843.65. This represents a 82.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,959 shares of company stock worth $26,671,107 over the last ninety days. Insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $673.42 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market cap of $1.70 trillion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.39 and a beta of 1.28. The stock has a 50-day moving average of $673.16 and a 200-day moving average of $706.04. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. Meta Platforms’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter last year, the firm earned $6.03 EPS. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s payout ratio is 9.28%.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. Erste Group Bank cut Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. KeyCorp decreased their price target on Meta Platforms from $905.00 to $875.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Arete Research set a $718.00 price objective on Meta Platforms in a research report on Thursday. Benchmark downgraded shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, TD Cowen reduced their target price on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $819.43.

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.