Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 196,324 shares of the social networking company stock after purchasing an additional 8,968 shares during the quarter. Meta Platforms makes up approximately 0.9% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 19th largest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Meta Platforms were worth $ 43,655,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barnett & Company Inc. raised its stake in Meta Platforms by 105.0% in the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company stock valued at $ 28,000 after purchasing an additional 42 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $ 28,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at $ 31,000. Advocacy Wealth Management Services LLC raised its position in Meta Platforms by 65.9% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company stock worth $ 34,000 after purchasing an additional 60 shares during the period. Finally, Evolution Advisers Inc. bought a new stake in Meta Platforms in the fourth quarter worth $ 48,000. 65.49% of the stock is currently owned by institutional investors and hedge funds.
In other Meta Platforms news, CAO Susan JS Taylor sold 1,420 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $ 202.16, for a total transaction of $ 287,067.20. Following the sale, the chief accounting officer now owns 1,605 shares in the company, valued at approximately $ 324,466.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 476 shares of the firm’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $ 233.92, for a total value of $ 111,345.92. Following the sale, the insider now owns 14,402 shares in the company, valued at approximately $ 3,368,915.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,564 shares of company stock worth $ 9,130,201. Company insiders own 13.59% of the company stock.
Shares of Meta Platforms stock opened at $ 169.49 on Tuesday. Meta Platforms, Inc. has a 1 year low of $ 154.25 and a 1 year high of $ 384.33. The company has a market capitalization of $ 458.69 billion, a P / E ratio of 12.82, a PEG ratio of 1.33 and a beta of 1.37. The company fifty day moving average is $ 188.16 and its two-hundred day moving average is $ 235.52.
Meta Platforms (NASDAQ: META – Get Rating) last issued 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 net margin of 31.20% and a return on equity of 28.74%. The company had revenue of $ 27.91 billion for the quarter, compared to the estimate consensus of $ 28.21 billion. During the same period last year, the firm posted $ 3.30 EPS. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 11.63 earnings per share for the current year.
Several equities analysts have recently commented on the stock. Mizuho lowered their price objective on shares of Meta Platforms from $ 425.00 to $ 325.00 and set a “buy” rating for the company in a research note on Monday, April 25th. Moffett Nathanson decreased their price target on shares of Meta Platforms to $ 280.00 in a research note on Thursday, May 26th. Rosenblatt Securities began coverage on shares of Meta Platforms in a research note on Tuesday, April 19th. They issued a “neutral” rating and a $ 228.00 price target for the company. UBS Group decreased their price target on shares of Meta Platforms from $ 310.00 to $ 215.00 and set a “buy” rating for the company in a research note on Thursday, June 16th. Finally, BMO Capital Markets decreased their price target on shares of Meta Platforms from $ 290.00 to $ 225.00 in a research note on Friday, April 22nd. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $ 305.87.
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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