Cooper Financial Group Acquires 353 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cooper Financial Group lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,573 shares of the social networking company’s stock after purchasing an additional 353 shares during the quarter. Cooper Financial Group’s holdings in Meta Platforms were worth $738,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Worth Asset Management LLC lifted its holdings in shares of Meta Platforms by 248.6% in the 1st quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. Sageworth Trust Co bought a new stake in Meta Platforms in the first quarter worth about $26,000. HBC Financial Services PLLC boosted its position in shares of Meta Platforms by 2,500.0% during the first quarter. HBC Financial Services PLLC now owns 130 shares of the social networking company’s stock valued at $28,000 after buying an additional 125 shares during the period. Rise Advisors LLC grew its stake in shares of Meta Platforms by 59.3% during the first quarter. Rise Advisors LLC now owns 137 shares of the social networking company’s stock valued at $29,000 after buying an additional 51 shares during the last quarter. Finally, Stephens Consulting LLC lifted its stake in shares of Meta Platforms by 44.6% during the 1st quarter. Stephens Consulting LLC now owns 162 shares of the social networking company’s stock worth $34,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 62.87% of the company’s stock.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 670 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $292.55, for a total value of $196,008.50. Following the sale, the insider now directly owns 39,690 shares of the company’s stock, valued at approximately $11,611,309.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of Meta Platforms stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $292.55, for a total value of $196,008.50. Following the completion of the transaction, the insider now directly owns 39,690 shares of the company’s stock, valued at approximately $11,611,309.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 8,032 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $2,459,318.08. Following the completion of the transaction, the chief technology officer now owns 11,588 shares of the company’s stock, valued at approximately $3,548,129.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,179 shares of company stock worth $12,474,820. Company insiders own 13.75% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Barclays increased their target price on Meta Platforms from $320.00 to $410.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $305.00 to $425.00 in a research report on Thursday, July 27th. HSBC raised shares of Meta Platforms from a “reduce” rating to a “hold” rating and set a $285.00 target price on the stock in a research report on Thursday, July 27th. Susquehanna increased their price objective on Meta Platforms from $310.00 to $400.00 in a research note on Thursday, July 27th. Finally, Stifel Nicolaus upped their price objective on shares of Meta Platforms from $280.00 to $336.00 in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.79.

Meta Platforms Stock Down 3.7 %

Shares of NASDAQ:META opened at $300.31 on Friday. Meta Platforms, Inc. has a 52-week low of $88.09 and a 52-week high of $326.20. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $302.23 and a two-hundred day moving average of $258.71. The stock has a market cap of $772.75 billion, a P/E ratio of 35.00, a PEG ratio of 1.00 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 26th. The social networking company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.36. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. The company had revenue of $32 billion for the quarter, compared to analyst estimates of $30.91 billion. On average, research analysts expect that Meta Platforms, Inc. will post 13.17 earnings per share for the current 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.