Meta Platforms, Inc. (NASDAQ:META) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,200 shares of the social networking company’s stock after selling 23,814 shares during the quarter. William Blair Investment Management LLC’s holdings in Meta Platforms were worth $52,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Sageworth Trust Co bought a new stake in Meta Platforms in the first quarter worth about $26,000. MBM Wealth Consultants LLC purchased a new position in Meta Platforms in the 4th quarter worth about $26,000. HBC Financial Services PLLC increased its stake in 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 in the last quarter. Altshuler Shaham Ltd purchased a new position in Meta Platforms in the 2nd quarter worth about $30,000. Finally, Red Tortoise LLC increased its stake in Meta Platforms by 32.2% in the 1st quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock worth $40,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 62.87% of the company’s stock.

Insider Activity

In related 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 transaction, the chief financial officer now directly owns 89,509 shares of the company’s stock, valued at $30,102,771.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related 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 transaction, the chief financial officer now directly owns 89,509 shares of the company’s stock, valued at $30,102,771.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 658 shares of Meta Platforms stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $317.00, for a total transaction of $208,586.00. Following the transaction, the insider now directly owns 32,332 shares in the company, valued at $10,249,244. The disclosure for this sale can be found here. Over the last quarter, insiders sold 231,873 shares of company stock valued at $75,354,118. Corporate insiders own 13.75% of the company’s stock.

Meta Platforms Stock Down 0.4 %

Shares of NASDAQ:META opened at $338.66 on Tuesday. 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 market cap of $870.31 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 1.10 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $108.32 and a 12 month high of $341.87. The company has a 50-day moving average price of $312.20 and a 200 day moving average price of $293.76.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on META. Truist Financial boosted their target price on Meta Platforms from $390.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Piper Sandler reduced their target price on Meta Platforms from $365.00 to $355.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Oppenheimer restated an “outperform” rating and issued a $385.00 target price on shares of Meta Platforms in a report on Thursday, September 28th. Guggenheim upped their price target on Meta Platforms from $375.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, September 27th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $375.00 price target on shares of Meta Platforms in a report on Thursday, September 28th. Two 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 given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $348.26.

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.