EdgeRock Capital LLC Has $494,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

EdgeRock Capital LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 18.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,397 shares of the social networking company’s stock after buying an additional 218 shares during the period. EdgeRock Capital LLC’s holdings in Meta Platforms were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of META. Everpar Advisors LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $2,194,000. Cherry Tree Wealth Management LLC boosted its position in Meta Platforms by 322.2% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 190 shares of the social networking company’s stock worth $67,000 after purchasing an additional 145 shares during the period. Barlow Wealth Partners Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at about $350,000. Patrick M Sweeney & Associates Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $478,000. Finally, Sovereign Financial Group Inc. boosted its holdings in shares of Meta Platforms by 21.4% during the 4th quarter. Sovereign Financial Group Inc. now owns 2,817 shares of the social networking company’s stock worth $997,000 after buying an additional 497 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold a total of 1,223,416 shares of company stock valued at $597,392,856 over the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.5 %

Shares of Meta Platforms stock traded up $2.56 during trading hours on Tuesday, reaching $468.24. The company’s stock had a trading volume of 13,382,768 shares, compared to its average volume of 18,298,424. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock’s fifty day simple moving average is $490.40 and its two-hundred day simple moving average is $410.65. The company has a market capitalization of $1.19 trillion, a P/E ratio of 26.87, a P/E/G ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $230.27 and a one year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, research analysts forecast that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on META. Citigroup cut their price objective on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Roth Mkm boosted their price target on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Oppenheimer lowered their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Company 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.