Hexagon Capital Partners LLC Has $14.30 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Hexagon Capital Partners LLC grew its stake in Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 5.1% during the first quarter, Holdings Channel.com reports. The fund owned 64,330 shares of the social networking company’s stock after purchasing an additional 3,100 shares during the quarter. Meta Platforms makes up 3.8% of Hexagon Capital Partners LLC’s investment portfolio, making the stock its 4th biggest position. Hexagon Capital Partners LLC’s holdings in Meta Platforms were worth $14,304,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Meta Platforms by 1.2% in the fourth quarter. BlackRock Inc. now owns 158,101,319 shares of the social networking company’s stock valued at $53,177,378,000 after acquiring an additional 1,909,538 shares in the last quarter. State Street Corp lifted its position in shares of Meta Platforms by 2.0% in the 4th quarter. State Street Corp now owns 94,303,590 shares of the social networking company’s stock worth $31,719,012,000 after purchasing an additional 1,887,737 shares during the period. Capital International Investors boosted its stake in shares of Meta Platforms by 5.9% during the fourth quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock valued at $17,413,576,000 after purchasing an additional 2,888,336 shares in the last quarter. Geode Capital Management LLC increased its holdings in Meta Platforms by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 40,627,257 shares of the social networking company’s stock valued at $13,629,910,000 after buying an additional 950,662 shares during the period. Finally, Norges Bank purchased a new position in Meta Platforms during the fourth quarter valued at approximately $9,595,113,000. 65.49% of the stock is currently owned by institutional investors and hedge funds.

In other Meta Platforms news, CTO Andrew Bosworth sold 10,126 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $203.35, for a total transaction of $2,059,122.10. Following the completion of the sale, the chief technology officer now owns 4,544 shares of the company’s stock, valued at $924,022.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 342 shares of the company’s stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $165.89, for a total value of $56,734.38. Following the completion of the transaction, the insider now directly owns 19,115 shares in the company, valued at approximately $3,170,987.35. The disclosure for this sale can be found here. Insiders have sold 45,698 shares of company stock worth $9,181,081 over the last ninety days. 13.59% of the stock is owned by insiders.

Shares of Meta Platforms stock opened at $155.85 on Thursday. The business’s 50 day moving average price is $190.82 and its 200 day moving average price is $239.46. The company has a market cap of $421.78 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.23 and a beta of 1.37. Meta Platforms, Inc. has a one year low of $155.44 and a one year high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.54 by $0.18. The business had revenue of $27.91 billion for the quarter, compared to analyst estimates of $28.21 billion. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same quarter in the previous year, the firm earned $3.30 EPS. Equities analysts predict that Meta Platforms, Inc. will post 11.63 EPS for the current fiscal year.

META has been the topic of a number of analyst reports. Benchmark assumed coverage on Meta Platforms in a report on Tuesday, March 1st. They issued a “hold” rating on the stock. TheStreet lowered Meta Platforms from a “b-” rating to a “c” rating in a research note on Friday, March 4th. UBS Group decreased their price target on shares of Meta Platforms from $310.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, June 16th. BMO Capital Markets cut their price objective on shares of Meta Platforms from $290.00 to $225.00 in a research report on Friday, April 22nd. Finally, JMP Securities decreased their target price on shares of Meta Platforms from $350.00 to $265.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.87.

About Meta Platforms (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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

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