Bain Capital Invests Over $95 Million in Meta Platforms
Bain Capital Public Equity Management II LLC has made a significant investment in Meta Platforms, Inc. (NASDAQ: META), acquiring 165,992 shares valued at approximately $95.67 million. This investment was reported in Bain Capital’s latest Form 13F filing with the Securities and Exchange Commission. The shares represent about 7.5% of Bain’s portfolio, making Meta its sixth-largest holding.
Several other institutional investors have also adjusted their positions in Meta recently. Notably, GAMMA Investing LLC dramatically increased its stake by 67,172.9%, now owning 23,452,665 shares valued at approximately $13.52 billion. Invesco Ltd. raised its holdings by 2.3% to own 17,669,795 shares worth $10.18 billion. Meanwhile, Goldman Sachs Group Inc. increased its position by 8.8%, now holding 15,575,962 shares valued at $8.98 billion. UBS Asset Management’s Americas unit and Wellington Management Group LLP also made notable increases in their stakes.
79.91% of Meta Platforms’ stock is now owned by institutional investors and hedge funds, reflecting strong confidence in the company’s future.
Meta Platforms Stock Performance
As of Wednesday, Meta’s stock opened at $735.11, contributing to a market capitalization of $1.85 trillion. The company’s price-to-earnings ratio stands at 26.62, with a PEG ratio of 1.53 and a beta of 1.24. Over the past year, Meta shares have fluctuated between a low of $479.80 and a high of $796.25. The stock’s 50-day moving average is $737.00, while the 200-day moving average is $658.50. The company maintains a debt-to-equity ratio of 0.15 and a current ratio of 1.97.
In recent insider trading activities, CEO Mark Zuckerberg sold 15,847 shares at an average price of $753.43 on August 1, 2023, totaling around $11.94 million. Another insider, Christopher K. Cox, sold 60,000 shares for $46.56 million on August 5, 2023. Following this transaction, Cox held 237,205 shares valued at approximately $184.06 million, representing a 20.19% reduction in his ownership.
Over the past three months, corporate insiders have sold 312,767 shares valued at roughly $234.72 million. Currently, corporate insiders possess 13.61% of the company’s stock.
Analysts’ Outlook on Meta Platforms
Several research analysts have recently provided updates on Meta Platforms. Loop Capital reaffirmed a “buy” rating and increased its price target to $980.00, up from a previous target of $888.00. Scotiabank raised its target from $675.00 to $685.00 while maintaining a “sector perform” rating. KeyCorp also raised its target from $800.00 to $905.00, assigning an “overweight” rating. BMO Capital Markets upgraded its target from $610.00 to $710.00, giving a “market perform” rating. Lastly, Needham & Company LLC moved Meta from an “underperform” rating to a “hold” rating.
The consensus among analysts suggests a strong buy sentiment, with three firms rating the stock as a Strong Buy, 39 as a Buy, and five giving it a Hold rating. The average target price for Meta Platforms currently sits at $822.41, according to data from MarketBeat.
Meta Platforms, Inc. focuses on developing products that foster connections among users through mobile devices, personal computers, virtual reality headsets, and wearables. The company operates in two segments: Family of Apps and Reality Labs, providing services like Facebook, Instagram, Messenger, and WhatsApp.
This latest investment and the positive outlook from analysts highlight ongoing confidence in Meta’s business model and growth potential in an evolving digital landscape.
