FourThought Financial Partners LLC Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

FourThought Financial Partners LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,206 shares of the social networking company’s stock after selling 179 shares during the period. FourThought Financial Partners LLC’s holdings in Meta Platforms were worth $1,843,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Forte Capital LLC ADV grew its holdings in Meta Platforms by 15.8% during the fourth quarter. Forte Capital LLC ADV now owns 3,341 shares of the social networking company’s stock valued at $1,183,000 after purchasing an additional 455 shares during the period. Claris Advisors LLC MO lifted its position in shares of Meta Platforms by 58.2% during the 4th quarter. Claris Advisors LLC MO now owns 1,929 shares of the social networking company’s stock valued at $683,000 after buying an additional 710 shares during the last quarter. Charles Carroll Financial Partners LLC grew its stake in shares of Meta Platforms by 14.4% during the 4th quarter. Charles Carroll Financial Partners LLC now owns 8,325 shares of the social networking company’s stock worth $2,947,000 after acquiring an additional 1,050 shares during the period. Vestmark Advisory Solutions Inc. increased its holdings in Meta Platforms by 446.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 22,574 shares of the social networking company’s stock worth $7,990,000 after acquiring an additional 18,440 shares during the last quarter. Finally, AJOVista LLC bought a new stake in Meta Platforms in the 4th quarter valued at about $535,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wolfe Research reduced their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Barclays reduced their target price on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Canaccord Genuity Group raised their price target on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, UBS Group dropped their price objective 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 equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given 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.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 30th. The shares were 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 owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $441.54, for a total value of $216,354.60. Following the sale, the chief operating officer now owns 6,599 shares in the company, valued at approximately $2,913,722.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders sold 1,257,876 shares of company stock valued at $613,168,252 over the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 2.3 %

Shares of Meta Platforms stock traded up $10.28 on Friday, reaching $451.96. The stock had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49. The company has a 50 day moving average price of $490.72 and a 200 day moving average price of $408.34. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.15 trillion, a P/E ratio of 25.96, a P/E/G ratio of 1.15 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 20.1 EPS for the current year.

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.