Altshuler Shaham Ltd Acquires 1,867 Shares of Meta Platforms, Inc. (NASDAQ:META)

Altshuler Shaham Ltd boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 709.9% during the 4th quarter, HoldingsChannel reports. The fund owned 2,130 shares of the social networking company’s stock after purchasing an additional 1,867 shares during the period. Altshuler Shaham Ltd’s holdings in Meta Platforms were worth $754,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Addison Advisors LLC raised its holdings in Meta Platforms by 3.9% in the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after buying an additional 25 shares during the period. WoodTrust Financial Corp boosted its position in Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after purchasing an additional 27 shares during the period. Tennessee Valley Asset Management Partners increased its holdings in Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after purchasing an additional 27 shares in the last quarter. Peterson Wealth Advisors LLC raised its position in Meta Platforms by 1.9% in the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after purchasing an additional 28 shares during the period. Finally, Edge Wealth Management LLC lifted its stake in shares of Meta Platforms by 4.0% during the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after purchasing an additional 28 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,223,992 shares of company stock valued at $597,661,462. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $2.82 on Thursday, reaching $475.42. 9,422,173 shares of the company traded hands, compared to its average volume of 18,126,488. The stock has a market capitalization of $1.21 trillion, a PE ratio of 27.31, a P/E/G ratio of 1.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company’s 50 day moving average is $489.80 and its 200-day moving average is $412.20. Meta Platforms, Inc. has a fifty-two week low of $230.72 and a fifty-two week high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. As a group, analysts anticipate that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. TD Cowen lowered their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Raymond James reduced their target price on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Oppenheimer dropped their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Canaccord Genuity Group reduced their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Profile

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.