Intelligence Driven Advisers LLC Acquires 1,414 Shares of Meta Platforms, Inc. (NASDAQ:META)

Intelligence Driven Advisers LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 140.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,424 shares of the social networking company’s stock after purchasing an additional 1,414 shares during the period. Intelligence Driven Advisers LLC’s holdings in Meta Platforms were worth $946,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of META. FMR LLC boosted its holdings in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after acquiring an additional 5,001,647 shares during the period. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the period. Concentrum Wealth Management boosted its holdings in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Meta Platforms by 55.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock valued at $2,591,602,000 after acquiring an additional 3,093,715 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Meta Platforms by 1,457.5% in the fourth quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock valued at $1,117,225,000 after buying an additional 2,953,704 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group reduced their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group reduced their target price on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Royal Bank of Canada reduced their target price on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms 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, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction on 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 sale, the chief technology officer now directly owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction on 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 sale, the chief technology officer now directly owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the transaction, the insider now owns 34,168 shares in the company, valued at $15,853,952. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,257,291 shares of company stock worth $612,916,087. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.8 %

META traded up $3.49 during trading on Thursday, hitting $442.68. The company had a trading volume of 10,640,337 shares, compared to its average volume of 18,356,436. The company has a market capitalization of $1.13 trillion, a PE ratio of 25.09, a PEG ratio of 1.12 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $229.85 and a one year high of $531.49. The firm’s 50-day moving average price is $492.83 and its 200 day moving average price is $406.97. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

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, beating 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 for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

About Meta Platforms

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.