Transcend Capital Advisors LLC Increases Stock Position in Meta Platforms, Inc. $META

Transcend Capital Advisors LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,932 shares of the social networking company’s stock after acquiring an additional 1,853 shares during the quarter. Meta Platforms comprises approximately 0.7% of Transcend Capital Advisors LLC’s portfolio, making the stock its 24th largest holding. Transcend Capital Advisors LLC’s holdings in Meta Platforms were worth $10,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. RHL Group LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth $28,000. Advantage Trust Co bought a new position in Meta Platforms in the second quarter valued at about $28,000. Strategic Wealth Advisors LLC purchased a new position in Meta Platforms in the fourth quarter worth about $29,000. Niles Investment Management LLC purchased a new position in Meta Platforms in the fourth quarter worth about $29,000. Finally, Axiom Investment Management LLC bought a new stake in shares of Meta Platforms during the 1st quarter valued at about $36,000. 79.91% of the stock is currently owned by institutional investors.

More Meta Platforms News

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

• Positive Sentiment: Meta opened paid developer access to Muse Spark 1.3, with company executives and analysts claiming the model is approaching or matching offerings from Anthropic and OpenAI. Improved performance and token efficiency could support adoption in coding agents, model APIs, subscriptions and future generative-search advertising. Meta Platforms: Muse Spark 1.3 Was The Warning Shot
• Positive Sentiment: Recent coverage identifies Muse Spark 1.3 as a new catalyst that could improve confidence in Meta’s AI roadmap and help the company recover toward its prior highs, provided the technology translates into revenue and returns on investment. Meta Rises 4% as Muse Spark 1.3 Claims Parity with Anthropic and OpenAI
• Positive Sentiment: Some investment commentary views Meta as a major beneficiary of the ongoing AI infrastructure and computing cycle, alongside other hyperscalers, potentially creating a long-term growth opportunity. Hyperscalers Are the Backbone of AI

Insiders Place Their Bets

In related news, COO Javier Olivan sold 1,258 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $600.00, for a total transaction of $754,800.00. Following the completion of the sale, the chief operating officer owned 1,517 shares in the company, valued at approximately $910,200. This trade represents a 45.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 1,559 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $869,922.00. Following the sale, the insider directly owned 1,957 shares in the company, valued at $1,092,006. This trade represents a 44.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,987 shares of company stock worth $19,202,995 in the last three months. 13.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. DA Davidson lowered their price objective on shares of Meta Platforms from $850.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Barclays reduced their target price on shares of Meta Platforms from $830.00 to $780.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Thursday, August 27th. Rothschild & Co Redburn lifted their price target on shares of Meta Platforms from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, UBS Group cut their price objective on shares of Meta Platforms from $766.00 to $715.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $785.22.

Meta Platforms Price Performance

NASDAQ META opened at $616.77 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $790.80. The stock has a market cap of $1.57 trillion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.06 and a beta of 1.25. The company’s 50 day moving average is $596.16 and its two-hundred day moving average is $609.26.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). The firm had revenue of $60.80 billion during the quarter, compared to analysts’ expectations of $60.22 billion. Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period last year, the company earned $7.14 earnings per share. As a group, research analysts anticipate that Meta Platforms, Inc. will post 28.17 earnings per share for the current year.

About Meta Platforms

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.