Meta Platforms, Inc. $META Shares Sold by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 22.8% in the 4th quarter, Holdings Channel reports. The firm owned 41,270 shares of the social networking company’s stock after selling 12,172 shares during the quarter. Meta Platforms accounts for approximately 0.6% of Bridgeway Capital Management LLC’s portfolio, making the stock its 15th biggest position. Bridgeway Capital Management LLC’s holdings in Meta Platforms were worth $27,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in META. Westchester Capital Management Inc. acquired a new position in Meta Platforms during the third quarter worth about $26,000. RHL Group LLC acquired a new position in Meta Platforms during the fourth quarter worth about $28,000. Strategic Wealth Advisors LLC acquired a new position in Meta Platforms during the fourth quarter worth about $29,000. Niles Investment Management LLC acquired a new position in Meta Platforms during the fourth quarter worth about $29,000. Finally, Key Capital Management INC acquired a new position in Meta Platforms during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on META shares. Benchmark started coverage on shares of Meta Platforms in a research report on Tuesday, June 2nd. They set a “buy” rating for the company. Raymond James Financial upgraded shares of Meta Platforms from an “underperform” rating to an “outperform” rating in a research report on Tuesday, June 2nd. Royal Bank Of Canada restated an “outperform” rating and set a $810.00 target price on shares of Meta Platforms in a research report on Monday, June 1st. Citizens Jmp reiterated a “market outperform” rating and set a $900.00 price target on shares of Meta Platforms in a report on Tuesday, April 21st. Finally, Mizuho lowered their price target 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. Three analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $840.60.

Trending Headlines about Meta Platforms

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 Price Performance

META opened at $567.58 on Thursday. 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, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The company has a 50 day moving average of $621.93 and a two-hundred day moving average of $635.05. The company has a market cap of $1.44 trillion, a P/E ratio of 20.63, a P/E/G ratio of 1.06 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same period in the previous year, the firm earned $6.43 earnings per share. Meta Platforms’s revenue for the quarter was up 33.1% on a year-over-year basis. On average, analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other news, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the transaction, the chief operating officer directly owned 10,557 shares of the company’s stock, valued at approximately $6,645,103.65. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 business’s stock in a transaction 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 transaction, the chief financial officer directly owned 13,186 shares in the company, 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 sold 40,568 shares of company stock valued at $25,057,365. 13.53% of the stock is currently owned by company insiders.

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.