Makena Capital Management LLC Sells 6,417 Shares of Meta Platforms, Inc. (NASDAQ:META)

Makena Capital Management LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 21.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 23,450 shares of the social networking company’s stock after selling 6,417 shares during the period. Meta Platforms comprises approximately 3.2% of Makena Capital Management LLC’s holdings, making the stock its 7th biggest position. Makena Capital Management LLC’s holdings in Meta Platforms were worth $13,424,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of META. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its stake in shares of 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 purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth $46,000. West Financial Advisors LLC bought a new position in Meta Platforms during the third quarter worth $49,000. Finally, NewSquare Capital LLC raised its stake in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying an additional 71 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total value of $469,740.25. Following the sale, the insider now directly owns 39,627 shares of the company’s stock, valued at $20,568,394.35. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 620 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00. Following the completion of the transaction, the chief operating officer now directly owns 19,992 shares in the company, valued at $11,135,544. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,843 shares of company stock valued at $92,083,554. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on META shares. Evercore ISI increased their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research note on Wednesday, October 16th. BMO Capital Markets lifted their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Finally, JMP Securities lifted their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Price Performance

META opened at $559.14 on Friday. The company has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.25 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $572.74 and a 200-day moving average price of $524.35. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

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.