Tybourne Capital Management HK Ltd. Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Tybourne Capital Management HK Ltd. raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 317.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,894 shares of the social networking company’s stock after purchasing an additional 8,284 shares during the quarter. Meta Platforms accounts for about 1.6% of Tybourne Capital Management HK Ltd.’s holdings, making the stock its 17th biggest position. Tybourne Capital Management HK Ltd.’s holdings in Meta Platforms were worth $6,379,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on META shares. Roth Capital lifted their price objective on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Argus set a $775.00 price objective on Meta Platforms in a research report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Guggenheim boosted their price target on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $701.05.

Meta Platforms Stock Performance

NASDAQ:META opened at $640.34 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a 50-day moving average of $571.37 and a two-hundred day moving average of $607.10. The stock has a market cap of $1.61 trillion, a P/E ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.71 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the sale, the insider now owns 308,686 shares in the company, valued at approximately $209,199,589.06. This represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $736.07, for a total transaction of $677,920.47. Following the completion of the sale, the insider now owns 35,787 shares in the company, valued at approximately $26,341,737.09. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,852 shares of company stock valued at $41,665,958 in the last ninety days. Insiders own 13.71% of the company’s stock.

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.