Clear Street Derivatives LLC Purchases Shares of 84,700 Meta Platforms, Inc. (NASDAQ:META)

Clear Street Derivatives LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 84,700 shares of the social networking company’s stock, valued at approximately $48,486,000. Meta Platforms comprises approximately 0.8% of Clear Street Derivatives LLC’s holdings, making the stock its 7th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. grew its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. bought a new stake in Meta Platforms in the third quarter valued at $46,000. West Financial Advisors LLC acquired a new position in shares of Meta Platforms during the third quarter valued at about $49,000. Finally, NewSquare Capital LLC grew its stake in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after buying an additional 71 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total value of $470,600.00. Following the transaction, the insider now directly owns 38,722 shares in the company, valued at approximately $20,135,440. This represents a 2.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,239 shares of company stock valued at $59,681,541 over the last three months. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on META. Guggenheim increased their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. KeyCorp increased their target price on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Citigroup boosted their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets raised their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Barclays boosted their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Stock Up 0.9 %

Shares of NASDAQ:META opened at $574.32 on Monday. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.27 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The firm has a fifty day moving average price of $575.21 and a two-hundred day moving average price of $527.76. 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 posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The company 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%. Analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.