5,580 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Sone Capital Management LLC

Sone Capital Management LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,580 shares of the social networking company’s stock, valued at approximately $3,267,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Regent Peak Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 5.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock valued at $2,939,000 after buying an additional 277 shares during the last quarter. Fjell Capital LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $334,000. Finally, Eagle Rock Investment Company LLC lifted its position in shares of Meta Platforms by 5.7% during the fourth quarter. Eagle Rock Investment Company LLC now owns 30,644 shares of the social networking company’s stock worth $17,942,000 after purchasing an additional 1,648 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on META shares. Wells Fargo & Company dropped their price objective on shares of Meta Platforms from $752.00 to $664.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Moffett Nathanson boosted their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Evercore ISI lifted their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Arete Research raised Meta Platforms to a “hold” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $701.05.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 406 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares in the company, valued at approximately $2,265,707.52. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $736.07, for a total value of $677,920.47. Following the completion of the sale, the insider now owns 35,787 shares of the company’s stock, valued at $26,341,737.09. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,852 shares of company stock worth $41,665,958 over the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.5%

META opened at $640.34 on Monday. The stock’s fifty day simple moving average is $571.37 and its 200 day simple moving average is $607.10. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The stock has a market cap of $1.61 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.71 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

About Meta Platforms

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.