Platform Technology Partners Has $3.09 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Platform Technology Partners grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,371 shares of the social networking company’s stock after buying an additional 331 shares during the period. Meta Platforms accounts for about 1.5% of Platform Technology Partners’ holdings, making the stock its 10th biggest holding. Platform Technology Partners’ holdings in Meta Platforms were worth $3,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Pacific Sun Financial Corp acquired a new stake in shares of Meta Platforms in the second quarter valued at about $717,000. Ullmann Wealth Partners Group LLC acquired a new stake in Meta Platforms during the second quarter worth approximately $258,000. LifePro Asset Management acquired a new stake in Meta Platforms during the second quarter worth approximately $446,000. Worth Asset Management LLC grew its stake in Meta Platforms by 218.0% during the second quarter. Worth Asset Management LLC now owns 388 shares of the social networking company’s stock worth $111,000 after purchasing an additional 266 shares during the period. Finally, Curran Financial Partners LLC acquired a new stake in Meta Platforms during the second quarter worth approximately $223,000. Institutional investors and hedge funds own 62.87% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $302.55 on Tuesday. The stock has a market cap of $778.51 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 0.99 and a beta of 1.23. Meta Platforms, Inc. has a fifty-two week low of $88.09 and a fifty-two week high of $326.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a fifty day moving average of $302.40 and a 200-day moving average of $260.80.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, topping 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 analysts’ expectations of $30.91 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 13.17 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 722 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $317.67, for a total transaction of $229,357.74. Following the completion of the transaction, the insider now directly owns 30,868 shares in the company, valued at $9,805,837.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Jennifer Newstead sold 722 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $317.67, for a total transaction of $229,357.74. Following the completion of the transaction, the insider now directly owns 30,868 shares in the company, valued at $9,805,837.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Javier Olivan sold 4,277 shares of Meta Platforms stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $293.00, for a total value of $1,253,161.00. Following the sale, the chief operating officer now directly owns 82,858 shares of the company’s stock, valued at approximately $24,277,394. The disclosure for this sale can be found here. Insiders sold a total of 40,457 shares of company stock worth $12,273,577 over the last ninety days. 14.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho raised their target price on Meta Platforms from $280.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Morgan Stanley raised their target price on Meta Platforms from $350.00 to $375.00 in a research note on Thursday, July 27th. Evercore ISI raised their target price on Meta Platforms from $350.00 to $435.00 in a research note on Thursday, July 27th. Bank of America raised their price objective on Meta Platforms from $350.00 to $375.00 in a research note on Thursday, July 27th. Finally, China Renaissance raised Meta Platforms from a “hold” rating to a “buy” rating and set a $380.00 price objective for the company in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $319.79.

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.