Penserra Capital Management LLC Buys 1,075 Shares of Meta Platforms, Inc. (NASDAQ:META)

Penserra Capital Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 130.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,898 shares of the social networking company’s stock after purchasing an additional 1,075 shares during the period. Penserra Capital Management LLC’s holdings in Meta Platforms were worth $1,085,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in META. International Assets Investment Management LLC grew its holdings in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC grew its stake in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after purchasing an additional 4,126,190 shares during the period. Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms during the 2nd quarter valued at about $595,152,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after purchasing an additional 661,923 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Meta Platforms in the second quarter worth approximately $285,690,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00. Following the completion of the sale, the insider now directly owns 38,722 shares of the company’s stock, valued at $20,135,440. The trade was a 2.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,656 shares of company stock worth $61,933,867 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

META has been the topic of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. Oppenheimer upped their price target on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Loop Capital lifted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, KeyCorp increased their target price on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

Meta Platforms Stock Up 1.5 %

Shares of NASDAQ META opened at $573.54 on Wednesday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a 50-day simple moving average of $573.38 and a two-hundred day simple moving average of $525.35. The company has a market cap of $1.45 trillion, a P/E ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts anticipate that Meta Platforms, Inc. will post 22.62 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. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 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.