Radnor Capital Management LLC Purchases New Position in Meta Platforms, Inc. (NASDAQ:META)

Radnor Capital Management LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,825 shares of the social networking company’s stock, valued at approximately $524,000.

Other institutional investors also recently modified their holdings of the company. Worth Asset Management LLC lifted its stake in 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 purchasing an additional 87 shares in the last quarter. Sageworth Trust Co purchased a new stake in Meta Platforms in the 1st quarter worth approximately $26,000. HBC Financial Services PLLC lifted its stake in Meta Platforms by 2,500.0% in the 1st quarter. HBC Financial Services PLLC now owns 130 shares of the social networking company’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. Rise Advisors LLC lifted its stake in Meta Platforms by 59.3% in the 1st quarter. Rise Advisors LLC now owns 137 shares of the social networking company’s stock worth $29,000 after purchasing an additional 51 shares in the last quarter. Finally, Stephens Consulting LLC lifted its stake in Meta Platforms by 44.6% in the 1st quarter. Stephens Consulting LLC now owns 162 shares of the social networking company’s stock worth $34,000 after purchasing an additional 50 shares in the last quarter. 62.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 10,643 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $3,258,780.17. Following the completion of the sale, the chief financial officer now owns 91,617 shares of the company’s stock, valued at $28,052,209.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Susan J. Li sold 10,643 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $3,258,780.17. Following the transaction, the chief financial officer now directly owns 91,617 shares in the company, valued at $28,052,209.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 722 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $278.73, for a total value of $201,243.06. Following the completion of the transaction, the insider now owns 35,200 shares in the company, valued at $9,811,296. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,179 shares of company stock valued at $12,474,820. Company insiders own 13.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on META. UBS Group increased their target price on shares of Meta Platforms from $335.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Jefferies Financial Group increased their price target on shares of Meta Platforms from $360.00 to $400.00 in a report on Thursday, July 27th. JPMorgan Chase & Co. raised their price objective on Meta Platforms from $305.00 to $425.00 in a research note on Thursday, July 27th. KeyCorp raised their price target on Meta Platforms from $280.00 to $335.00 in a research report on Thursday, July 6th. Finally, Oppenheimer lifted their price objective on Meta Platforms from $350.00 to $385.00 in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, forty-four have given a buy rating and one has given 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 $319.79.

Meta Platforms Stock Performance

Shares of META opened at $300.31 on Friday. The business has a fifty day moving average of $302.23 and a 200 day moving average of $258.71. Meta Platforms, Inc. has a one year low of $88.09 and a one year high of $326.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a market capitalization 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 released its quarterly earnings results on Wednesday, July 26th. The social networking company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.36. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. The business had revenue of $32 billion during the quarter, compared to analyst estimates of $30.91 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 13.17 EPS 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.