Affinity Capital Advisors LLC lessened its position in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,205 shares of the social networking company stock after selling 484 shares during the quarter. Affinity Capital Advisors LLC’s holdings in Meta Platforms were worth $ 1,157,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Widmann Financial Services Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth about $ 100,000. Cabot Wealth Management Inc. grew its position in Meta Platforms by 0.6% during the 1st quarter. Cabot Wealth Management Inc. now owns 9,474 shares of the social networking company stock worth $ 2,107,000 after acquiring an additional 60 shares during the last quarter. EFG Asset Management North America Corp. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $ 7,032,000. Pacer Advisors Inc. increased its position in Meta Platforms by 149.1% in the 1st quarter. Pacer Advisors Inc. now owns 506,232 shares of the social networking company stock valued at $ 112,566,000 after acquiring an additional 303,001 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. raised its position in Meta Platforms by 4.1% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,012 shares of the social networking company stock worth $ 677,000 after purchasing an additional 80 shares during the last quarter. 65.49% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Marne L. Levine sold 10,252 shares of the firm’s stock in a transaction that occurred on Sunday, May 15th. The stock was sold at an average price of $ 198.62, for a total transaction of $ 2,036,252.24. Following the transaction, the insider now directly owns 23,010 shares in the company, valued at approximately $ 4,570,246.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $ 166.11, for a total value of $ 56,809.62. Following the completion of the transaction, the insider now directly owns 18,773 shares in the company, valued at $ 3,118,383.03. The disclosure for this sale can be found here. Insiders sold a total of 45,564 shares of company stock valued at $ 9,130,201 in the last 90 days. 13.59% of the stock is currently owned by corporate insiders.
Shares of NASDAQ: META opened at $ 169.49 on Tuesday. The firm has a market capitalization of $ 458.69 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.33 and a beta of 1.37. Meta Platforms, Inc. has a 52-week low of $ 154.25 and a 52-week high of $ 384.33. The firm has a fifty day moving average of $ 188.16 and a 200 day moving average of $ 235.52.
Meta Platforms (NASDAQ: META – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The social networking company reported $ 2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 2.54 by $ 0.18. The firm had revenue of $ 27.91 billion during the quarter, compared to analyst estimates of $ 28.21 billion. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same quarter in the previous year, the company posted $ 3.30 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
Several research firms have recently issued reports on META. Raymond James decreased their target price on Meta Platforms from $ 340.00 to $ 290.00 in a research report on Thursday, April 28th. Benchmark assumed coverage on Meta Platforms in a research report on Tuesday, March 1st. They issued a “hold” rating on the stock. Jefferies Financial Group cut their price objective on Meta Platforms from $ 330.00 to $ 310.00 in a report on Tuesday, May 24th. Royal Bank of Canada reduced their objective price on shares of Meta Platforms from $ 245.00 to $ 240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 13th. Finally, Moffett Nathanson decreased their price target on shares of Meta Platforms to $ 280.00 in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $ 305.87.
About Meta Platforms: (Get Rating)
Meta Platforms, Inc. develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment’s products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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