Wimmer Associates 1 LLC Purchases 47 Shares of Meta Platforms, Inc. (NASDAQ:META)

Wimmer Associates 1 LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 702 shares of the social networking company’s stock after purchasing an additional 47 shares during the quarter. Wimmer Associates 1 LLC’s holdings in Meta Platforms were worth $411,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in META. Ballentine Partners LLC increased its holdings in shares of Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after acquiring an additional 808 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Meta Platforms by 0.6% during the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after acquiring an additional 897 shares in the last quarter. Suvretta Capital Management LLC increased its holdings in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock valued at $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP increased its holdings in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Finally, Brueske Advisory Services LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $459,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $736.07, for a total value of $677,920.47. Following the completion of the transaction, the insider now directly owns 35,787 shares of the company’s stock, valued at approximately $26,341,737.09. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,852 shares of company stock valued at $41,665,958. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Down 0.5%

Shares of META stock opened at $640.34 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market cap of $1.61 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. The stock has a 50 day simple moving average of $571.37 and a 200-day simple moving average of $607.10. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.71 EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

META has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Wedbush upped their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Piper Sandler upped their target price on Meta Platforms from $610.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group upped their target price on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $701.05.

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.