RDST Capital LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ: META – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 29,735 shares of the social networking company stock, valued at approximately $ 10,001,000. Meta Platforms makes up about 6.8% of RDST Capital LLC’s investment portfolio, making the stock its 7th largest position.
A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Meta Platforms by 1.2% during the 4th quarter. BlackRock Inc. now owns 158,101,319 shares of the social networking company stock worth $ 53,177,378,000 after acquiring an additional 1,909,538 shares during the period. State Street Corp boosted its position in shares of Meta Platforms by 2.0% during the 4th quarter. State Street Corp now owns 94,303,590 shares of the social networking company stock valued at $ 31,719,012,000 after acquiring an additional 1,887,737 shares during the last quarter. Capital International Investors boosted its position in shares of Meta Platforms by 5.9% during the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company stock valued at $ 17,413,576,000 after acquiring an additional 2,888,336 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Meta Platforms by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 40,627,257 shares of the social networking company stock valued at $ 13,629,910,000 after acquiring an additional 950,662 shares during the last quarter. Finally, Alliancebernstein LP lifted its position in Meta Platforms by 1.3% in the fourth quarter. Alliancebernstein LP now owns 22,644,618 shares of the social networking company stock valued at $ 7,616,517,000 after buying an additional 301,424 shares during the last quarter. Institutional investors own 65.49% of the company stock.
META has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of Meta Platforms from $ 330.00 to $ 300.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 1st. MKM Partners decreased their target price on shares of Meta Platforms from $ 315.00 to $ 295.00 in a research report on Thursday, April 28th. lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, February 24th. Moffett Nathanson cut their price target on shares of Meta Platforms to $ 280.00 in a research note on Thursday, May 26th. Finally, Susquehanna Bancshares cut their price target on shares of Meta Platforms from $ 375.00 to $ 290.00 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $ 305.87.
Meta Platforms stock opened at $ 160.87 on Friday. The stock’s 50 day moving average price is $ 195.37 and its 200 day moving average price is $ 244.36. The firm has a market capitalization of $ 435.37 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.08 and a beta of 1.37. Meta Platforms, Inc. has a one year low of $ 159.61 and a one year high of $ 384.33.
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, 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 company had revenue of $ 27.91 billion for the quarter, compared to the estimate consensus of $ 28.21 billion. During the same period in the previous year, the business earned $ 3.30 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 11.56 earnings per share for the current year.
In other news, insider Jennifer Newstead sold 768 shares of the business’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $ 211.37, for a total value of $ 162,332.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 11,718 shares of the company stock in a transaction 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 transaction, the chief technology officer now owns 11,913 shares of the company stock, valued at $ 2,366,160.06. The disclosure for this sale can be found here. Insiders have sold a total of 45,782 shares of company stock worth $ 9,221,039 over the last 90 days. 13.59% of the stock is owned by company 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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