Evanson Asset Management LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 16.5% in the 1st quarter, Holdings Channel reports. The firm owned 172,705 shares of the social networking company stock after selling 34,035 shares during the quarter. Meta Platforms accounts for 3.7% of Evanson Asset Management LLC’s investment portfolio, making its stock its 9th largest holding. Evanson Asset Management LLC’s holdings in Meta Platforms were worth $ 38,403,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in META. Norges Bank bought a new position in Meta Platforms during the 4th quarter worth $ 9,595,113,000. Dodge & Cox grew its holdings in Meta Platforms by 78.7% during the 4th quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company stock worth $ 2,238,518,000 after acquiring an additional 2,931,894 shares during the period. Capital International Investors grew its holdings in Meta Platforms by 5.9% during the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company stock worth $ 17,413,576,000 after acquiring an additional 2,888,336 shares during the period. HS Management Partners LLC grew its holdings in Meta Platforms by 463.7% during the 4th quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company stock worth $ 182,104,000 after acquiring an additional 2,325,382 shares during the period. Finally, TD Asset Management Inc. grew its holdings in Meta Platforms by 52.7% during the 4th quarter. TD Asset Management Inc. now owns 6,124,750 shares of the social networking company stock worth $ 2,060,059,000 after acquiring an additional 2,114,636 shares during the period. 65.49% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on META. JMP Securities decreased their price target on Meta Platforms from $ 350.00 to $ 265.00 and set a “market outperform” rating for the company in a report on Tuesday, April 19th. BMO Capital Markets decreased their price target on Meta Platforms from $ 290.00 to $ 225.00 in a report on Friday, April 22nd. TheStreet downgraded Meta Platforms from a “b-” rating to a “c” rating in a research note on Friday, March 4th. Guggenheim cut their price target on Meta Platforms from $ 275.00 to $ 250.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Finally, Credit Suisse Group lifted their price target on Meta Platforms to $ 273.00 in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $ 305.87.
Meta Platforms stock opened at $ 157.05 on Wednesday. Meta Platforms, Inc. has a 1-year low of $ 155.97 and a 1-year high of $ 384.33. The firm has a market capitalization of $ 425.03 billion, a price-to-earnings ratio of 11.88, a P / E / G ratio of 1.28 and a beta of 1.37. The firm has a 50 day simple moving average of $ 192.00 and a 200 day simple moving average of $ 240.04.
Meta Platforms (NASDAQ: META – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The social networking company reported $ 2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $ 2.54 by $ 0.18. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. The business had revenue of $ 27.91 billion during the quarter, compared to analyst estimates of $ 28.21 billion. During the same period in the previous year, the business earned $ 3.30 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
In other news, insider Marne L. Levine sold 10,252 shares of the business’s stock in a transaction on Sunday, May 15th. The shares were sold at an average price of $ 198.62, for a total transaction of $ 2,036,252.24. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 476 shares of the business’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $ 233.92, for a total transaction of $ 111,345.92. Following the transaction, the insider now owns 14,402 shares of the company stock, valued at $ 3,368,915.84. The disclosure for this sale can be found here. Insiders sold a total of 45,698 shares of company stock valued at $ 9,181,081 over the last quarter. 13.59% of the stock is owned by company insiders.
Meta Platforms Company Profile: (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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