Titan Global Capital Management USA LLC Has $23.82 Million Stock Position in Meta Platforms, Inc. $META

Titan Global Capital Management USA LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.7% during the first quarter, Holdings Channel.com reports. The firm owned 41,626 shares of the social networking company’s stock after acquiring an additional 1,494 shares during the quarter. Meta Platforms accounts for about 3.5% of Titan Global Capital Management USA LLC’s portfolio, making the stock its 12th biggest position. Titan Global Capital Management USA LLC’s holdings in Meta Platforms were worth $23,816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in META. Keybank National Association OH raised its stake in Meta Platforms by 15.7% in the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock valued at $88,319,000 after acquiring an additional 18,169 shares during the period. WMS Group LLC bought a new position in Meta Platforms during the fourth quarter worth $876,000. Consolidated Investment Group LLC raised its position in shares of Meta Platforms by 61.2% in the fourth quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company’s stock valued at $5,215,000 after purchasing an additional 3,000 shares during the period. Vanguard Group Inc. raised its position in shares of Meta Platforms by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock valued at $132,015,115,000 after purchasing an additional 7,269,279 shares during the period. Finally, Third View Private Wealth LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $27,789,000. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 7,847 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer directly owned 414 shares of the company’s stock, valued at $251,641.62. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Curtis J. Mahoney sold 2,079 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the transaction, the insider owned 1,118 shares of the company’s stock, valued at $681,890.56. The trade was a 65.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,948 shares of company stock worth $23,184,319 over the last three months. Company insiders own 13.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on META shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Meta Platforms in a report on Wednesday, July 8th. BNP Paribas Exane began coverage on Meta Platforms in a report on Tuesday, June 2nd. They set an “outperform” rating for the company. Arete Research set a $735.00 price objective on Meta Platforms and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Susquehanna raised Meta Platforms from a “positive” rating to a “positive” rating in a research report on Tuesday, June 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $1,015.00 target price on shares of Meta Platforms in a research note on Thursday, May 28th. Five analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $835.64.

Meta Platforms Stock Performance

NASDAQ META opened at $595.19 on Friday. The firm has a 50-day moving average price of $604.51 and a two-hundred day moving average price of $625.76. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The company has a market capitalization of $1.51 trillion, a P/E ratio of 21.64, a P/E/G ratio of 1.01 and a beta of 1.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the business earned $6.43 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 29.49 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms’s dividend payout ratio is 7.63%.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: A new free verification badge system for Facebook users, which may improve trust and platform quality. Fast Company article
• Positive Sentiment: A dedicated Marketplace seller app with tools for merchants, aimed at making Facebook commerce more useful and organized. Reuters article
• Positive Sentiment: Wall Street commentary remained constructive, with articles highlighting Meta as a strong momentum stock and a potentially attractive AI-era value name.
• Positive Sentiment: Analyst sentiment stayed favorable, including a report that Wells Fargo raised its price target on Meta to $835.00.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.