Freedman Financial Associates Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 14.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 773 shares of the social networking company stock after purchasing an additional 100 shares during the period. Freedman Financial Associates Inc.’s holdings in Meta Platforms were worth $ 181,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in META. New World Advisors LLC increased its stake in shares of Meta Platforms by 170.8% during the third quarter. New World Advisors LLC now owns 2,248 shares of the social networking company stock worth $ 730,000 after purchasing an additional 1,418 shares during the period. Dark Forest Capital Management LP increased its stake in shares of Meta Platforms by 37.5% during the third quarter. Dark Forest Capital Management LP now owns 242 shares of the social networking company stock worth $ 82,000 after purchasing an additional 66 shares during the period. Crake Asset Management LLP increased its stake in shares of Meta Platforms by 44.2% during the third quarter. Crake Asset Management LLP now owns 699,352 shares of the social networking company stock worth $ 237,353,000 after purchasing an additional 214,300 shares during the period. Garde Capital Inc. increased its stake in shares of Meta Platforms by 5.1% during the third quarter. Garde Capital Inc. now owns 5,800 shares of the social networking company stock worth $ 1,968,000 after purchasing an additional 282 shares during the period. Finally, Personal CFO Solutions LLC increased its stake in shares of Meta Platforms by 3.4% during the third quarter. Personal CFO Solutions LLC now owns 14,226 shares of the social networking company stock worth $ 4,828,000 after purchasing an additional 474 shares during the period. Institutional investors own 65.49% of the company stock.
Shares of NASDAQ: META opened at $ 158.75 on Friday. The firm has a market cap of $ 429.63 billion, a P / E ratio of 12.01, a P / E / G ratio of 1.22 and a beta of 1.37. Meta Platforms, Inc. has a 12-month low of $ 154.25 and a 12-month high of $ 384.33. The business has a fifty day simple moving average of $ 189.79 and a 200 day simple moving average of $ 238.90.
Meta Platforms (NASDAQ: META – Get Rating) last announced its 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. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. The business had revenue of $ 27.91 billion during the quarter, compared to analyst estimates of $ 28.21 billion. During the same period last year, the company earned $ 3.30 EPS. On average, equities analysts anticipate that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on META shares. UBS Group reduced their price target on Meta Platforms from $ 310.00 to $ 215.00 and set a “buy” rating on the stock in a research report on Thursday, June 16th. Truist Financial reduced their price target on Meta Platforms from $ 350.00 to $ 320.00 in a research report on Thursday, April 28th. Credit Suisse Group increased their price target on Meta Platforms to $ 273.00 in a research report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft started coverage on Meta Platforms in a research report on Friday, March 11th. They set a “buy” rating and a $ 265.00 price target on the stock. Finally, Moffett Nathanson reduced their price target on Meta Platforms to $ 280.00 in a research report on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $ 305.87.
In other news, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $ 233.92, for a total value of $ 111,345.92. Following the completion of the transaction, the insider now directly owns 14,402 shares of the company stock, valued at approximately $ 3,368,915.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David M. Wehner sold 1,222 shares of Meta Platforms stock in a transaction dated Sunday, May 15th. The stock was sold at an average price of $ 198.62, for a total value of $ 242,713.64. Following the completion of the transaction, the chief financial officer now directly owns 12,247 shares of the company stock, valued at $ 2,432,499.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,040 shares of company stock valued at $ 9,237,891. Corporate insiders own 13.59% of the company stock.
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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