Matisse Capital lifted its stake in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 65.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,066 shares of the social networking company stock after purchasing an additional 420 shares during the quarter. Matisse Capital’s holdings in Meta Platforms were worth $ 237,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Autus Asset Management LLC raised its stake 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 buying an additional 33 shares during the period. Well Done LLC raised its stake 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 buying an additional 34 shares during the period. JGP Wealth Management LLC raised its stake 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 buying an additional 36 shares during the period. Segall Bryant & Hamill LLC raised its stake in shares of Meta Platforms by 0.8% in the third quarter. Segall Bryant & Hamill LLC now owns 4,993 shares of the social networking company stock worth $ 1,694,000 after buying an additional 40 shares during the period. Finally, TruWealth Advisors LLC raised its stake in shares of Meta Platforms by 2.8% in the fourth quarter. TruWealth Advisors LLC now owns 1,465 shares of the social networking company stock worth $ 493,000 after buying an additional 40 shares during the period. 65.49% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on META shares. Evercore ISI decreased their target price on Meta Platforms from $ 350.00 to $ 325.00 in a research note on Thursday, April 28th. TheStreet downgraded Meta Platforms from a “b-” rating to a “c” rating in a research note on Friday, March 4th. Moffett Nathanson decreased their target price on Meta Platforms to $ 280.00 in a research note on Thursday, May 26th. Benchmark started coverage on Meta Platforms in a research note on Tuesday, March 1st. They set a “hold” rating on the stock. Finally, Canaccord Genuity Group decreased their target price on Meta Platforms from $ 360.00 to $ 330.00 in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $ 305.87.
META opened at $ 155.85 on Thursday. The business has a fifty day moving average of $ 190.82 and a 200 day moving average of $ 239.46. Meta Platforms, Inc. has a 52-week low of $ 155.44 and a 52-week high of $ 384.33. The stock has a market cap of $ 421.78 billion, a P / E ratio of 11.79, a PEG ratio of 1.23 and a beta of 1.37.
Meta Platforms (NASDAQ: META – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The social networking company reported $ 2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 2.54 by $ 0.18. The company had revenue of $ 27.91 billion during the quarter, compared to analysts’ expectations 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 business earned $ 3.30 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 11.63 EPS for the current fiscal year.
In other Meta Platforms news, insider Marne L. Levine sold 10,252 shares of Meta Platforms stock in a transaction 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 completion of the sale, the insider now directly owns 23,010 shares of the company stock, valued at approximately $ 4,570,246.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $ 226.24, for a total value of $ 107,690.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,698 shares of company stock valued at $ 9,181,081. 13.59% of the stock is currently owned by corporate insiders.
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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