Thompson Siegel & Walmsley LLC Cuts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Thompson Siegel & Walmsley LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 26.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,235 shares of the social networking company’s stock after selling 3,645 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Meta Platforms were worth $2,937,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of META. Fairfield Bush & CO. acquired a new position in Meta Platforms in the first quarter valued at approximately $66,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Meta Platforms by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock valued at $499,020,000 after acquiring an additional 249,926 shares during the last quarter. Ergoteles LLC lifted its holdings in Meta Platforms by 284.0% in the first quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock valued at $746,000 after acquiring an additional 2,482 shares during the last quarter. First Western Trust Bank acquired a new position in Meta Platforms in the first quarter valued at approximately $813,000. Finally, Oxford Financial Group Ltd. lifted its holdings in Meta Platforms by 26.9% in the first quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock valued at $420,000 after acquiring an additional 400 shares during the last quarter. 62.87% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $335.04 on Friday. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.13. The company has a market cap of $861.01 billion, a P/E ratio of 29.57, a PEG ratio of 1.10 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $108.32 and a 52 week high of $338.40. The company has a 50-day moving average price of $311.55 and a 200 day moving average price of $292.62.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 25th. The social networking company reported $4.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $34.15 billion during the quarter, compared to the consensus estimate of $33.58 billion. During the same period last year, the firm earned $1.64 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts predict that Meta Platforms, Inc. will post 14.18 earnings per share for the current year.

Insider Activity

In other news, CFO Susan J. Li sold 10,642 shares of Meta Platforms stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total transaction of $3,579,011.02. Following the completion of the sale, the chief financial officer now directly owns 89,509 shares in the company, valued at approximately $30,102,771.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Susan J. Li sold 10,642 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total transaction of $3,579,011.02. Following the completion of the transaction, the chief financial officer now directly owns 89,509 shares of the company’s stock, valued at approximately $30,102,771.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Clegg sold 2,145 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total transaction of $721,384.95. Following the transaction, the insider now directly owns 9,933 shares of the company’s stock, valued at $3,340,567.23. The disclosure for this sale can be found here. In the last three months, insiders sold 204,534 shares of company stock worth $66,204,363. Company insiders own 13.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $400.00 price objective on shares of Meta Platforms in a report on Thursday, October 26th. Wells Fargo & Company upped their price target on Meta Platforms from $372.00 to $380.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Loop Capital upped their price target on Meta Platforms from $365.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Evercore ISI upped their price target on Meta Platforms from $350.00 to $435.00 in a research note on Thursday, July 27th. Finally, Stifel Nicolaus restated a “buy” rating and set a $405.00 price target on shares of Meta Platforms in a research note on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $348.26.

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.