Bain Capital Public Equity Management II LLC has made a significant investment in Meta Platforms, Inc., acquiring 165,992 shares valued at approximately $95.7 million. This information comes from the firm’s latest Form 13F filing with the Securities and Exchange Commission. The stake represents about 7.5% of Bain Capital’s portfolio, positioning Meta as its sixth-largest investment.
Other institutional investors have also increased their stakes in Meta. Notably, GAMMA Investing LLC raised its holdings by an astonishing 67,172.9%, now owning 23,452,665 shares valued at $13.5 billion. Invesco Ltd. has expanded its position by 2.3%, holding 17,669,795 shares valued at $10.2 billion. Goldman Sachs Group Inc. increased its stake by 8.8%, holding 15,575,962 shares worth $9 billion. Meanwhile, UBS Asset Management Americas LLC and Wellington Management Group LLP have also expanded their investments in Meta.
Institutional ownership now accounts for 79.91% of Meta Platforms’ stock, reflecting strong confidence among large investors.
Meta Platforms’ Financial Performance and Insider Activity
As of August 2, 2023, Meta Platforms’ stock opened at $735.11. The company boasts a market capitalization of $1.85 trillion and a price-to-earnings ratio of 26.62. Over the past year, the stock has fluctuated between a low of $479.80 and a high of $796.25. The company’s debt-to-equity ratio stands at 0.15, indicating a solid financial position.
In insider trading news, CEO Mark Zuckerberg sold 15,847 shares on August 1, 2023, for an average price of $753.43, totaling approximately $11.9 million. Additionally, insider Christopher K. Cox sold 60,000 shares on August 5, 2023, for an average price of $775.95, amounting to $46.6 million. Following this transaction, Cox retains 237,205 shares, valued at roughly $184.1 million. In total, company insiders have sold 312,767 shares worth about $234.7 million over the last three months.
Analysts’ Ratings and Future Outlook
Recent reports from several research analysts indicate a positive outlook for Meta. On August 5, 2023, Loop Capital reaffirmed a “buy” rating, raising its price target to $980.00 from $888.00. Scotiabank increased its target from $675.00 to $685.00, maintaining a “sector perform” rating. KeyCorp raised its target from $800.00 to $905.00 and classified the stock as “overweight.” BMO Capital Markets also increased its target from $610.00 to $710.00, while Needham & Company upgraded its rating from “underperform” to “hold.”
Overall, the consensus rating for Meta Platforms is classified as a “Moderate Buy” with an average target price of $822.41. Three analysts have given a “Strong Buy” rating, while thirty-nine have assigned a “Buy” rating, and five have issued a “Hold” rating.
Meta Platforms, Inc. focuses on developing products that foster connections among users globally. The company operates through two main segments: Family of Apps, which includes platforms such as Facebook and Instagram, and Reality Labs, which focuses on virtual and augmented reality technologies.
As institutional investors continue to show strong interest in Meta, the company appears poised for growth in the evolving tech landscape.