Nwam LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,861 shares of the social networking company’s stock after selling 295 shares during the quarter. Nwam LLC’s holdings in Meta Platforms were worth $2,830,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of META. Sageworth Trust Co bought a new position in Meta Platforms in the first quarter valued at approximately $26,000. MBM Wealth Consultants LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $26,000. HBC Financial Services PLLC boosted its position in shares of 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 during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Meta Platforms during the second quarter worth $30,000. Finally, Red Tortoise LLC increased its holdings in Meta Platforms by 32.2% in the first quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 46 shares during the last quarter. 62.87% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $375.00 target price on shares of Meta Platforms in a research report on Thursday, September 28th. Guggenheim upped their target price on shares of Meta Platforms from $375.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, September 27th. CICC Research initiated coverage on shares of Meta Platforms in a research report on Monday, August 28th. They set an “outperform” rating on the stock. Truist Financial upped their price objective on shares of Meta Platforms from $390.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, China Renaissance upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $380.00 target price on the stock in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $348.26.
Meta Platforms Stock Performance
Shares of NASDAQ META traded down $2.61 during trading hours on Thursday, reaching $330.10. 3,508,141 shares of the stock were exchanged, compared to its average volume of 25,249,271. The firm has a market capitalization of $848.31 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 1.09 and a beta of 1.21. The stock’s fifty day simple moving average is $310.10 and its 200 day simple moving average is $291.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.57 and a current ratio of 2.57. Meta Platforms, Inc. has a 52 week low of $108.32 and a 52 week high of $338.40.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The social networking company reported $4.39 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.77. The firm had revenue of $34.15 billion for the quarter, compared to analysts’ expectations of $33.58 billion. Meta Platforms had a return on equity of 26.40% and a net margin of 23.42%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.64 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 14.18 EPS for the current year.
Insider Buying and Selling at Meta Platforms
In other news, CEO Mark Zuckerberg sold 28,009 shares of Meta Platforms stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 value of $8,699,595.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 658 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $317.00, for a total transaction of $208,586.00. Following the sale, the insider now owns 32,332 shares in the company, valued at approximately $10,249,244. The disclosure for this sale can be found here. Insiders sold 176,082 shares of company stock valued at $56,635,671 in the last quarter. 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.
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