Time: 2024-08-01
Shares of Meta Platforms ( NASDAQ : META ) have shown a remarkable increase of about 38 % year - to - date , surpassing the S&P 500 's 17 % gain . The tech giant is set to announce its second - quarter results on July 31 , with expectations of robust double - digit growth in both revenue and earnings . The company 's stock price could see further upside if it delivers impressive results.
According to TipRanks , public companies and individual investors own 42.4 % of Meta Platforms , followed by mutual funds , other institutional investors , and insiders at 27.18 % , 21.19 % , and 9.23 % , respectively . Among institutions , Vanguard holds a significant stake of 7.63 % in META stock , with Vanguard Index Funds owning 7.20 % . Hedge funds have shown a negative sentiment towards META stock , decreasing their holdings by 13.6 M shares in the last quarter.
CreativeOne Wealth LLC and Delta Global Management LP are among the hedge funds that have increased their positions in Meta Platforms , indicating confidence in the company 's future prospects . Overall , institutional investors own approximately 79.91 % of the company 's stock.
Meta Platforms reported impressive quarterly earnings , beating analysts ' estimates and showcasing strong financial performance . With a current stock price of 65.70 and a market capitalization of .18 trillion , META is trading up 2.7 % . The company 's average price target of 39.59 implies a 10 % upside potential , as per Wall Street analysts.
Despite recent challenges , analysts remain optimistic about META stock , with a consensus Strong Buy rating based on 39 Buy , three Hold , and two Sell recommendations . Analysts are bullish on the company 's growth prospects and expect it to continue delivering strong financial results.
Insider activity at Meta Platforms has been notable , with key executives selling shares in recent months . COO Javier Olivan and insider Jennifer Newstead were among those who sold shares , signaling insider confidence in the company 's future performance . Meta Platforms , Inc. operates in the Family of Apps and Reality Labs segments , offering products that enable people to connect and share across various platforms and devices globally .
As investors assess the ownership structure , financial performance , and analyst recommendations for META stock , it is essential to consider the company 's innovative offerings and potential for future growth in the evolving tech landscape.