Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Sykon Capital LLC

Sykon Capital LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,250 shares of the social networking company’s stock after selling 66 shares during the period. Sykon Capital LLC’s holdings in Meta Platforms were worth $1,858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after purchasing an additional 1,733,182 shares during the last quarter. FMR LLC increased its stake in Meta Platforms by 4.0% in 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 purchasing an additional 5,001,647 shares during the last quarter. Morgan Stanley lifted its position in Meta Platforms by 3.4% during the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after buying an additional 1,184,978 shares during the period. Northern Trust Corp boosted its stake in Meta Platforms by 4.3% in the 3rd quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock worth $6,906,009,000 after buying an additional 946,871 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock valued at $3,945,799,000 after buying an additional 111,735 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 2.3 %

Shares of NASDAQ:META traded up $10.28 during trading on Friday, reaching $451.96. 16,489,057 shares of the company traded hands, compared to its average volume of 20,698,000. The firm has a fifty day simple moving average of $490.72 and a 200 day simple moving average 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. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49. The firm has a market cap of $1.15 trillion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.15 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm 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%. Analysts anticipate that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Javier Olivan sold 490 shares of the firm’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 completion of the transaction, the chief operating officer now directly owns 6,599 shares of the company’s stock, valued at $2,913,722.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,876 shares of company stock valued at $613,168,252 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Loop Capital lowered their price target on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. BMO Capital Markets raised their price target on shares of Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Finally, Oppenheimer decreased their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

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.