Goodwin Daniel L boosted his position in Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 19.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,965 shares of the social networking company’s stock after purchasing an additional 805 shares during the period. Meta Platforms makes up approximately 0.5% of Goodwin Daniel L’s holdings, making the stock its 26th largest holding. Goodwin Daniel L’s holdings in Meta Platforms were worth $1,102,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Barnett & Company Inc. increased its position in Meta Platforms by 105.0% in the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock worth $28,000 after buying an additional 42 shares during the last quarter. Rise Advisors LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $28,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth $31,000. Advocacy Wealth Management Services LLC boosted its holdings in shares of Meta Platforms by 65.9% in the first quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company’s stock worth $34,000 after acquiring an additional 60 shares during the period. Finally, Evolution Advisers Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth $48,000. 65.49% of the stock is owned by institutional investors and hedge funds.
META opened at $160.03 on Friday. The business has a 50 day simple moving average of $185.28 and a two-hundred day simple moving average of $232.14. The firm has a market capitalization of $433.09 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.33 and a beta of 1.37. Meta Platforms, Inc. has a one year low of $154.25 and a one year high of $384.33.
Meta Platforms (NASDAQ:META – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.18. The business 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 EPS. On average, analysts anticipate that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
META has been the subject of a number of analyst reports. Mizuho cut their price target on Meta Platforms from $425.00 to $325.00 and set a “buy” rating for the company in a report on Monday, April 25th. Raymond James cut their price target on Meta Platforms from $340.00 to $290.00 in a report on Thursday, April 28th. Jefferies Financial Group dropped their price objective on Meta Platforms from $330.00 to $310.00 in a research note on Tuesday, May 24th. Canaccord Genuity Group dropped their price objective on Meta Platforms from $360.00 to $330.00 in a research note on Thursday, April 28th. Finally, JMP Securities dropped their price objective on Meta Platforms from $265.00 to $240.00 and set a “market outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.59.
In other news, insider Jennifer Newstead sold 342 shares of the stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $165.89, for a total value of $56,734.38. Following the completion of the transaction, the insider now owns 19,115 shares of the company’s stock, valued at approximately $3,170,987.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,718 shares of the stock in a transaction that occurred on Sunday, May 15th. The stock was sold at an average price of $198.62, for a total value of $2,327,429.16. Following the completion of the transaction, the chief technology officer now directly owns 11,913 shares of the company’s stock, valued at approximately $2,366,160.06. The disclosure for this sale can be found here. Insiders sold a total of 45,906 shares of company stock valued at $9,188,306 in the last three months. Corporate insiders own 13.59% of the company’s stock.
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 feeds, stories, reels, videos, 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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