Total Investment Management Inc. Purchases Shares of 809 Meta Platforms, Inc. (NASDAQ:META)

Total Investment Management Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 809 shares of the social networking company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. St. Louis Financial Planners Asset Management LLC lifted its holdings in shares of Meta Platforms by 13.7% during the 2nd quarter. St. Louis Financial Planners Asset Management LLC now owns 13,830 shares of the social networking company’s stock worth $3,969,000 after acquiring an additional 1,666 shares during the period. Centre Asset Management LLC lifted its holdings in Meta Platforms by 29.4% during the 2nd quarter. Centre Asset Management LLC now owns 26,173 shares of the social networking company’s stock valued at $7,511,000 after purchasing an additional 5,953 shares during the last quarter. Apella Capital LLC bought a new position in Meta Platforms during the 2nd quarter valued at about $520,000. Moseley Investment Management Inc. lifted its holdings in Meta Platforms by 1.6% during the 2nd quarter. Moseley Investment Management Inc. now owns 4,086 shares of the social networking company’s stock valued at $1,173,000 after purchasing an additional 66 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in Meta Platforms by 38.2% during the 2nd quarter. DNB Asset Management AS now owns 3,037,548 shares of the social networking company’s stock valued at $871,716,000 after purchasing an additional 839,445 shares during the last quarter. 62.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on META. Guggenheim lifted their price target on shares of Meta Platforms from $320.00 to $375.00 in a report on Thursday, July 27th. Mizuho raised their price objective on shares of Meta Platforms from $280.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $305.00 to $425.00 in a research report on Thursday, July 27th. New Street Research upgraded shares of Meta Platforms from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research report on Tuesday, July 25th. Finally, Barclays raised their price objective on shares of Meta Platforms from $320.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Two investment 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 given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.79.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 722 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $317.67, for a total value of $229,357.74. Following the completion of the transaction, the insider now owns 30,868 shares of the company’s stock, valued at $9,805,837.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jennifer Newstead sold 722 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $317.67, for a total value of $229,357.74. Following the completion of the transaction, the insider now owns 30,868 shares in the company, valued at approximately $9,805,837.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 4,277 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $293.00, for a total transaction of $1,253,161.00. Following the completion of the transaction, the chief operating officer now owns 82,858 shares of the company’s stock, valued at approximately $24,277,394. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,179 shares of company stock valued at $12,474,820. 13.75% of the stock is currently owned by insiders.

Meta Platforms Trading Down 3.7 %

META opened at $300.31 on Friday. Meta Platforms, Inc. has a twelve month low of $88.09 and a twelve month high of $326.20. The company has a 50-day simple moving average of $302.23 and a 200 day simple moving average of $258.71. 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 stock has a market capitalization of $772.75 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 1.00 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 earnings per share for the quarter, topping 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 business had revenue of $32 billion during the quarter, compared to analysts’ expectations of $30.91 billion. Analysts predict that Meta Platforms, Inc. will post 13.17 EPS for the current fiscal year.

Meta Platforms Company 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.