Avala Global LP Sells 67,648 Shares of Meta Platforms, Inc. $META

Avala Global LP trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 60.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,652 shares of the social networking company’s stock after selling 67,648 shares during the period. Meta Platforms comprises 1.4% of Avala Global LP’s portfolio, making the stock its 21st largest position. Avala Global LP’s holdings in Meta Platforms were worth $28,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Keybank National Association OH increased its stake in Meta Platforms by 15.7% during 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 purchasing an additional 18,169 shares in the last quarter. Becker Capital Management Inc. raised its holdings in Meta Platforms by 5.0% in the third quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock worth $25,741,000 after buying an additional 1,657 shares during the last quarter. Diversified Trust Co. raised its holdings in Meta Platforms by 4.1% in the fourth quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after buying an additional 3,336 shares during the last quarter. Cramer Rosenthal Mcglynn LLC raised its holdings in Meta Platforms by 16.2% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock worth $5,091,000 after buying an additional 968 shares during the last quarter. Finally, Consolidated Investment Group LLC raised its holdings in 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 worth $5,215,000 after buying an additional 3,000 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. Stifel Nicolaus decreased their target price on shares of Meta Platforms from $805.00 to $780.00 and set a “buy” rating for the company in a report on Friday, May 1st. Mizuho decreased their target price on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Morgan Stanley decreased their target price on shares of Meta Platforms from $825.00 to $775.00 and set an “overweight” rating for the company in a report on Monday, March 30th. Susquehanna raised shares of Meta Platforms from a “positive” rating to a “positive” rating in a report on Tuesday, June 2nd. Finally, Piper Sandler assumed coverage on shares of Meta Platforms in a report on Tuesday, June 2nd. They issued an “overweight” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $840.60.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $629.45, for a total value of $1,748,612.10. Following the completion of the transaction, the chief operating officer directly owned 10,557 shares in the company, valued at $6,645,103.65. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the transaction, the chief financial officer owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. The trade was a 41.08% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 40,568 shares of company stock valued at $25,057,365. Company insiders own 13.53% of the company’s stock.

Key Meta Platforms News

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

• Positive Sentiment: Meta said Threads has reached 500 million monthly active users, while new community features and feed controls could improve engagement and strengthen the long-term value of its social platform. Reuters: Meta’s Threads reaches 500 million monthly users, rolls out new features
• Positive Sentiment: Meta rolled out AI search and creative tools across Facebook, which analysts say could open a new monetization opportunity and support future ad growth. Proactive Investors: Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Positive Sentiment: Bank of America reiterated a Buy view on Meta, citing AI strategy as a key growth catalyst, which may help support investor confidence in the company’s long-term earnings potential. Insider Monkey: BofA reiterates Buy rating on Meta Platforms
• Neutral Sentiment: Meta is expected to pay its next quarterly dividend next week, a routine shareholder return that is supportive but unlikely to be a major near-term stock driver. Finbold: Meta to pay dividends next week
• Negative Sentiment: Reuters reported that a Meta executive overseeing part of the company’s AI-for-work restructuring is leaving, adding to concerns about execution during a major AI transition. Reuters: Meta head of product for ‘AI for work’ transformation is leaving company
• Negative Sentiment: Two SEC filings showed COO Javier Olivan sold shares under a pre-arranged 10b5-1 plan, which can still weigh on sentiment even though the sales were scheduled. SEC filing for Javier Olivan transaction
• Negative Sentiment: Recent commentary has also focused on Meta’s heavy AI spending, Reality Labs losses, and valuation concerns, reinforcing fears that profit growth could slow if investment remains elevated. Zacks: Meta Platforms is Overvalued at 5.5X PS

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $567.58 on Thursday. The firm has a 50 day moving average of $621.93 and a 200 day moving average of $635.05. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $6.43 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms’s dividend payout ratio is presently 7.63%.

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.