Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,776 shares of the social networking company’s stock after purchasing an additional 15,634 shares during the quarter. Meta Platforms makes up approximately 1.7% of Metis Global Partners LLC’s portfolio, making the stock its 7th largest holding. Metis Global Partners LLC’s holdings in Meta Platforms were worth $42,750,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of META. Stone House Investment Management LLC boosted its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the last quarter. Gilfoyle & Co LLC acquired a new position in Meta Platforms in the fourth quarter valued at $39,000. Cranbrook Wealth Management LLC lifted its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Finally, PayPay Securities Corp grew its holdings in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were 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 approximately $15,853,952. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Mark Zuckerberg sold 34,398 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $457.52, for a total transaction of $15,737,772.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the completion of the transaction, the insider now owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,876 shares of company stock worth $613,168,252 in the last 90 days. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on META. Wedbush decreased their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Morgan Stanley upped their price objective on Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Canaccord Genuity Group raised their price objective on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Sanford C. Bernstein decreased their target price on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Canaccord Genuity Group cut their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Stock Performance

NASDAQ:META traded up $10.28 during mid-day trading on Friday, hitting $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 52 week low of $229.85 and a 52 week high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.18 and a beta of 1.21. The company has a 50 day simple moving average of $490.72 and a 200-day simple moving average of $409.58.

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 analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, research analysts expect that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal 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.