Meta Platforms, Inc. (NASDAQ:META) is Quadrature Capital Ltd’s 4th Largest Position

Quadrature Capital Ltd lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 215,090 shares of the social networking company’s stock after purchasing an additional 11,110 shares during the period. Meta Platforms accounts for 2.8% of Quadrature Capital Ltd’s investment portfolio, making the stock its 4th biggest holding. Quadrature Capital Ltd’s holdings in Meta Platforms were worth $123,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Jennison Associates LLC grew its stake in Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after buying an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Meta Platforms by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after purchasing an additional 208,677 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Meta Platforms by 4.6% in the 3rd quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock valued at $3,758,146,000 after purchasing an additional 289,207 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. KeyCorp raised their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Piper Sandler raised their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. UBS Group lifted their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Susquehanna lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $634.71.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now owns 37,817 shares in the company, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 141,668 shares of company stock valued at $81,288,334 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $613.78 on Thursday. Meta Platforms, Inc. has a 1 year low of $315.39 and a 1 year high of $617.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company’s 50-day moving average is $576.78 and its 200 day moving average is $529.92. The stock has a market capitalization of $1.55 trillion, a P/E ratio of 28.91, a P/E/G ratio of 1.35 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

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.