GraniteShares Advisors LLC Lowers Position in Meta Platforms, Inc. (NASDAQ:META)

GraniteShares Advisors LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,946 shares of the social networking company’s stock after selling 676 shares during the period. Meta Platforms comprises 1.8% of GraniteShares Advisors LLC’s portfolio, making the stock its 6th largest holding. GraniteShares Advisors LLC’s holdings in Meta Platforms were worth $1,993,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sageworth Trust Co purchased a new stake in Meta Platforms during the first quarter valued at approximately $26,000. MBM Wealth Consultants LLC purchased a new stake in Meta Platforms during the fourth quarter valued at approximately $26,000. HBC Financial Services PLLC increased its holdings in 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 last quarter. Altshuler Shaham Ltd purchased a new stake in Meta Platforms during the second quarter valued at approximately $30,000. Finally, Red Tortoise LLC increased its holdings in Meta Platforms by 32.2% during the first quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock valued at $40,000 after buying an additional 46 shares during the last quarter. Institutional investors own 62.87% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $338.72 on Wednesday. Meta Platforms, Inc. has a 12 month low of $108.32 and a 12 month high of $338.72. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $309.43 and a 200 day moving average price of $291.02. The stock has a market cap of $870.46 billion, a PE ratio of 29.68, a P/E/G ratio of 1.09 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 25th. The social networking company reported $4.39 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.77. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. The firm had revenue of $34.15 billion during the quarter, compared to analysts’ expectations of $33.58 billion. During the same period in the previous year, the company earned $1.64 EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 14.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on META shares. Robert W. Baird upped their target price on shares of Meta Platforms from $260.00 to $355.00 in a report on Thursday, July 27th. China Renaissance upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $380.00 price objective on the stock in a research report on Friday, July 28th. Piper Sandler decreased their price objective on shares of Meta Platforms from $365.00 to $355.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Susquehanna raised their price objective on shares of Meta Platforms from $310.00 to $400.00 in a research report on Thursday, July 27th. Finally, New Street Research upgraded shares of Meta Platforms from a “neutral” rating to a “buy” rating and set a $350.00 price objective on the stock in a research report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $348.26.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $310.60, for a total value of $8,699,595.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $310.60, for a total transaction of $8,699,595.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 4,277 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $293.00, for a total transaction of $1,253,161.00. Following 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. Insiders sold a total of 124,341 shares of company stock valued at $39,293,937 in the last three months. Company insiders own 14.03% of the company’s stock.

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.