Swiss National Bank Sells 165,600 Shares of Meta Platforms, Inc. (NASDAQ:META)

Swiss National Bank cut its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,949,800 shares of the social networking company’s stock after selling 165,600 shares during the period. Meta Platforms makes up about 1.8% of Swiss National Bank’s portfolio, making the stock its 6th biggest holding. Swiss National Bank owned approximately 0.27% of Meta Platforms worth $2,459,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of META. FMR LLC raised its position 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 purchasing an additional 5,001,647 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after buying an additional 4,908,251 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Meta Platforms by 55.9% in 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 buying an additional 3,093,715 shares in the last quarter. Cerity Partners LLC raised its stake in Meta Platforms by 1,457.5% during the fourth quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock worth $1,117,225,000 after acquiring an additional 2,953,704 shares in the last quarter. Finally, Lone Pine Capital LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $834,315,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wolfe Research dropped their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Barclays reduced their price objective on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Sanford C. Bernstein dropped their target price on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Raymond James reduced their price target on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 25th. Finally, Guggenheim lowered their price objective on Meta Platforms from $520.00 to $500.00 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 assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Check Out Our Latest Research Report on META

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the transaction, the chief technology officer now directly owns 18,432 shares in the company, valued at $8,723,496.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $441.54, for a total transaction of $216,354.60. Following the sale, the chief operating officer now directly owns 6,599 shares in the company, valued at $2,913,722.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. Insiders sold 1,257,291 shares of company stock worth $612,916,087 over the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 0.4 %

Shares of Meta Platforms stock traded up $1.67 during midday trading on Thursday, reaching $440.86. 9,055,986 shares of the company’s stock traded hands, compared to its average volume of 18,337,094. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $229.85 and a 12 month high of $531.49. The company has a market cap of $1.12 trillion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.21. The stock has a 50 day moving average of $492.83 and a 200-day moving average of $406.97.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

About Meta Platforms

(Free Report)

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.

See Also

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.