Maxi Investments CY Ltd Buys 56,850 Shares of Meta Platforms, Inc. $META

Maxi Investments CY Ltd boosted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1,624.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 60,350 shares of the social networking company’s stock after acquiring an additional 56,850 shares during the quarter. Meta Platforms accounts for about 7.2% of Maxi Investments CY Ltd’s portfolio, making the stock its 2nd biggest holding. Maxi Investments CY Ltd’s holdings in Meta Platforms were worth $39,836,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC lifted its holdings in Meta Platforms by 3.2% in the 3rd quarter. Valued Wealth Advisors LLC now owns 454 shares of the social networking company’s stock valued at $334,000 after purchasing an additional 14 shares in the last quarter. First National Bank Sioux Falls lifted its holdings in Meta Platforms by 0.7% in the 4th quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock valued at $1,321,000 after purchasing an additional 14 shares in the last quarter. Levin Capital Strategies L.P. lifted its holdings in Meta Platforms by 1.4% in the 4th quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock valued at $649,000 after purchasing an additional 14 shares in the last quarter. Vista Capital Partners Inc. lifted its holdings in Meta Platforms by 1.3% in the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after purchasing an additional 14 shares in the last quarter. Finally, Macroview Investment Management LLC lifted its holdings in Meta Platforms by 3.3% in the 3rd quarter. Macroview Investment Management LLC now owns 465 shares of the social networking company’s stock valued at $341,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wolfe Research decreased their price objective on Meta Platforms from $850.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Barclays raised their price objective on Meta Platforms from $800.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Arete Research restated a “neutral” rating on shares of Meta Platforms in a report on Thursday, March 5th. Raymond James Financial decreased their price objective on Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating on the stock in a report on Monday, January 26th. Finally, KeyCorp restated an “overweight” rating and issued a $760.00 price objective on shares of Meta Platforms in a report on Thursday, April 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $840.31.

Read Our Latest Research Report on META

Meta Platforms Price Performance

Shares of META opened at $614.23 on Monday. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The company has a market capitalization of $1.55 trillion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.08 and a beta of 1.25. The stock has a fifty day simple moving average of $622.18 and a two-hundred day simple moving average of $639.94. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same period last year, the company earned $6.43 EPS. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, equities analysts forecast that Meta Platforms, Inc. will post 29.65 EPS for the current year.

Insiders Place Their Bets

In other Meta Platforms news, Director Robert M. Kimmitt sold 580 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $667.00, for a total value of $386,860.00. Following the completion of the sale, the director directly owned 3,847 shares of the company’s stock, valued at $2,565,949. This trade represents a 13.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 926 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $604.57, for a total value of $559,831.82. Following the transaction, the chief operating officer owned 6,853 shares of the company’s stock, valued at approximately $4,143,118.21. This represents a 11.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 160,352 shares of company stock valued at $102,559,436 over the last ninety days. Corporate insiders own 13.53% of the company’s stock.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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