Richelieu Gestion PLC bought a new stake in Meta Platforms, Inc. (NASDAQ: META – Get Rating) in the 1st quarter, Holdings Channel reports. The institutional investor bought 1,223 shares of the social networking company stock, valued at approximately $ 272,000.
Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Meta Platforms during the fourth quarter worth approximately $ 9,595,113,000. Dodge & Cox grew its stake in Meta Platforms by 78.7% in the fourth quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company stock valued at $ 2,238,518,000 after acquiring an additional 2,931,894 shares during the period. Capital International Investors lifted its holdings in shares of Meta Platforms by 5.9% in the fourth quarter. Capital International Investors now owns 51,769,038 shares of the social networking company stock valued at $ 17,413,576,000 after purchasing an additional 2,888,336 shares in the last quarter. HS Management Partners LLC lifted its holdings in shares of Meta Platforms by 463.7% in the fourth quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company stock valued at $ 182,104,000 after purchasing an additional 2,325,382 shares in the last quarter. Finally, TD Asset Management Inc. lifted its holdings in shares of Meta Platforms by 52.7% in the fourth quarter. TD Asset Management Inc. now owns 6,124,750 shares of the social networking company stock valued at $ 2,060,059,000 after purchasing an additional 2,114,636 shares in the last quarter. 65.49% of the stock is owned by institutional investors.
In related news, CAO Susan JS Taylor sold 1,420 shares of the company stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $ 202.16, for a total transaction of $ 287,067.20. Following the completion of the transaction, the chief accounting officer now owns 1,605 shares in the company, valued at approximately $ 324,466.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 476 shares of the company stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $ 233.92, for a total transaction of $ 111,345.92. Following the sale, the insider now directly owns 14,402 shares of the company stock, valued at approximately $ 3,368,915.84. The disclosure for this sale can be found here. Insiders have sold 45,564 shares of company stock valued at $ 9,130,201 over the last 90 days. 13.59% of the stock is currently owned by insiders.
NASDAQ META opened at $ 163.94 on Thursday. The firm’s fifty day simple moving average is $ 186.30 and its two-hundred day simple moving average is $ 233.85. Meta Platforms, Inc. has a 12-month low of $ 154.25 and a 12-month high of $ 384.33. The firm has a market capitalization of $ 443.67 billion, a P / E ratio of 12.40, a P / E / G ratio of 1.33 and a beta of 1.37.
Meta Platforms (NASDAQ: META – Get Rating) last announced 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. The firm had revenue of $ 27.91 billion for the quarter, compared to analyst estimates of $ 28.21 billion. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same period in the previous year, the company earned $ 3.30 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 11.63 EPS for the current year.
A number of research analysts have recently weighed in on META shares. Morgan Stanley dropped their target price on Meta Platforms from $ 330.00 to $ 300.00 and set an “overweight” rating on the stock in a report on Wednesday, June 1st. Canaccord Genuity Group dropped their price target on Meta Platforms from $ 360.00 to $ 330.00 in a report on Thursday, April 28th. Credit Suisse Group raised their target price on Meta Platforms to $ 273.00 in a research report on Thursday, April 28th. TheStreet downgraded Meta Platforms from a “b-” rating to a “c” rating in a research report on Friday, March 4th. Finally, Susquehanna Bancshares reduced their price target on Meta Platforms from $ 375.00 to $ 290.00 in a research report 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $ 304.00.
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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