St. Louis Financial Planners Asset Management LLC Buys 1,666 Shares of Meta Platforms, Inc. (NASDAQ:META)

St. Louis Financial Planners Asset Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,830 shares of the social networking company’s stock after acquiring an additional 1,666 shares during the period. Meta Platforms accounts for about 4.0% of St. Louis Financial Planners Asset Management LLC’s holdings, making the stock its 5th biggest position. St. Louis Financial Planners Asset Management LLC’s holdings in Meta Platforms were worth $3,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Worth Asset Management LLC increased its position in Meta Platforms by 248.6% during 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 during the period. Sageworth Trust Co acquired a new position in Meta Platforms during the 1st quarter worth approximately $26,000. HBC Financial Services PLLC increased its position in Meta Platforms by 2,500.0% during 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 during the period. Rise Advisors LLC increased its position in Meta Platforms by 59.3% during 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 during the period. Finally, Stephens Consulting LLC increased its position in 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 purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 62.87% of the company’s stock.

Meta Platforms Stock Down 3.7 %

Shares of NASDAQ META opened at $300.31 on Friday. Meta Platforms, Inc. has a 12-month low of $88.09 and a 12-month high of $326.20. The company has a market cap of $772.75 billion, a P/E ratio of 35.00, a P/E/G ratio of 1.00 and a beta of 1.23. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $302.23 and a 200 day moving average price of $258.71.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 26th. The social networking company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $30.91 billion. Research analysts anticipate that Meta Platforms, Inc. will post 13.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on META shares. Wolfe Research upped their price target on Meta Platforms from $300.00 to $330.00 in a report on Wednesday, June 14th. Robert W. Baird upped their price target on Meta Platforms from $260.00 to $355.00 in a report on Thursday, July 27th. UBS Group upped their price target on Meta Platforms from $335.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. New Street Research upgraded Meta Platforms from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a report on Tuesday, July 25th. Finally, Wedbush started coverage on Meta Platforms in a report on Monday, August 21st. They issued an “outperform” rating and a $350.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, forty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $319.79.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 722 shares of the business’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $278.73, for a total value of $201,243.06. Following the completion of the sale, the insider now directly owns 35,200 shares of the company’s stock, valued at $9,811,296. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 722 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 20th. The stock was 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 directly owns 35,200 shares in the company, valued at $9,811,296. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 10,643 shares of the business’s stock in a transaction that occurred on 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 owns 91,617 shares of the company’s stock, valued at $28,052,209.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,179 shares of company stock valued at $12,474,820. 13.75% of the stock is currently owned by insiders.

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.