Arden Trust Co lowered its position in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 16.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,123 shares of the social networking company stock after selling 1,565 shares during the quarter. Arden Trust Co’s holdings in Meta Platforms were worth $ 1,806,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Autus Asset Management LLC increased its holdings in shares of Meta Platforms by 5.4% in the fourth quarter. Autus Asset Management LLC now owns 643 shares of the social networking company stock worth $ 217,000 after purchasing an additional 33 shares during the period. Well Done LLC increased its holdings in shares of Meta Platforms by 1.9% in the fourth quarter. Well Done LLC now owns 1,829 shares of the social networking company stock worth $ 615,000 after purchasing an additional 34 shares during the period. JGP Wealth Management LLC increased its holdings in shares of Meta Platforms by 1.9% in the fourth quarter. JGP Wealth Management LLC now owns 1,903 shares of the social networking company stock worth $ 617,000 after purchasing an additional 36 shares during the period. Segall Bryant & Hamill LLC increased its stake in Meta Platforms by 0.8% in the third quarter. Segall Bryant & Hamill LLC now owns 4,993 shares of the social networking company stock valued at $ 1,694,000 after acquiring an additional 40 shares during the last quarter. Finally, TruWealth Advisors LLC increased its stake in Meta Platforms by 2.8% in the fourth quarter. TruWealth Advisors LLC now owns 1,465 shares of the social networking company stock valued at $ 493,000 after acquiring an additional 40 shares during the last quarter. 65.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of META opened at $ 157.05 on Wednesday. The company has a market capitalization of $ 425.03 billion, a P / E ratio of 11.88, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37. The firm has a 50 day moving average of $ 192.00 and a 200 day moving average of $ 240.04. Meta Platforms, Inc. has a twelve month low of $ 155.97 and a twelve month high of $ 384.33.
Meta Platforms (NASDAQ: META – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The social networking company reported $ 2.72 earnings per share for the quarter, beating the consensus estimate of $ 2.54 by $ 0.18. The company had revenue of $ 27.91 billion during the quarter, compared to the estimate consensus of $ 28.21 billion. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same quarter last year, the firm earned $ 3.30 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 11.56 earnings per share for the current fiscal year.
In other Meta Platforms news, CTO Andrew Bosworth sold 11,718 shares of Meta Platforms stock in a transaction that occurred on Sunday, May 15th. The shares were sold at an average price of $ 198.62, for a total value of $ 2,327,429.16. Following the completion of the sale, the chief technology officer now owns 11,913 shares of the company stock, valued at approximately $ 2,366,160.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 311 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $ 199.60, for a total transaction of $ 62,075.60. Following the completion of the sale, the insider now directly owns 12,187 shares of the company stock, valued at approximately $ 2,432,525.20. The disclosure for this sale can be found here. Insiders have sold 45,698 shares of company stock valued at $ 9,181,081 in the last three months. 13.59% of the stock is owned by insiders.
A number of research firms recently commented on META. Wedbush reduced their target price on Meta Platforms from $ 270.00 to $ 220.00 in a research note on Thursday, April 28th. The Goldman Sachs Group reduced their target price on Meta Platforms from $ 300.00 to $ 290.00 and set a “buy” rating on the stock in a research note on Thursday, June 9th. Piper Sandler reduced their target price on Meta Platforms from $ 230.00 to $ 220.00 and set a “neutral” rating on the stock in a research note on Thursday, June 2nd. Morgan Stanley reduced their target price on Meta Platforms from $ 330.00 to $ 300.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 1st. Finally, Guggenheim cut their price target on shares of Meta Platforms from $ 275.00 to $ 250.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus 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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