Yarbrough Capital LLC boosted its stake in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,901 shares of the social networking company stock after buying an additional 29,268 shares during the period. Meta Platforms accounts for approximately 4.5% of Yarbrough Capital LLC’s investment portfolio, making the stock its 6th largest holding. Yarbrough Capital LLC’s holdings in Meta Platforms were worth $ 79,583,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of 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 stock worth $ 28,000 after buying an additional 42 shares during the period. Rise Advisors LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $ 28,000. Evolution Advisers Inc. acquired a new position in shares of Meta Platforms during the fourth quarter valued at $ 48,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in shares of Meta Platforms during the fourth quarter valued at $ 31,000. Finally, Advocacy Wealth Management Services LLC increased its holdings in shares of Meta Platforms by 65.9% during the first quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company stock valued at $ 34,000 after purchasing an additional 60 shares during the period. 65.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Meta Platforms stock opened at $ 158.75 on Friday. The stock has a 50-day moving average price of $ 189.79 and a 200 day moving average price of $ 238.90. The company has a market cap of $ 429.63 billion, a P / E ratio of 12.01, a P / E / G ratio of 1.22 and a beta of 1.37. Meta Platforms, Inc. has a 1 year low of $ 154.25 and a 1 year high of $ 384.33.
Meta Platforms (NASDAQ: META – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The social networking company reported $ 2.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the estimate consensus of $ 28.21 billion. During the same period last year, the business earned $ 3.30 EPS. Research analysts forecast that Meta Platforms, Inc. will post 11.63 earnings per share for the current year.
In related news, CTO Andrew Bosworth sold 11,718 shares of the firm’s 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 transaction, the chief technology officer now directly owns 11,913 shares of the company stock, valued at approximately $ 2,366,160.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Susan JS Taylor sold 1,420 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $ 202.16, for a total value of $ 287,067.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,605 shares in the company, valued at $ 324,466.80. The disclosure for this sale can be found here. Insiders have sold a total of 46,040 shares of company stock valued at $ 9,237,891 over the last ninety days. Company insiders own 13.59% of the company stock.
A number of research analysts have recently commented on META shares. Guggenheim lowered their price target on Meta Platforms from $ 275.00 to $ 250.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Morgan Stanley lowered their price target on Meta Platforms from $ 330.00 to $ 300.00 and set an “overweight” rating on the stock in a report on Wednesday, June 1st. Moffett Nathanson lowered their price target on Meta Platforms to $ 280.00 in a report on Thursday, May 26th. Credit Suisse Group raised their price target on Meta Platforms to $ 273.00 in a report on Thursday, April 28th. Finally, Susquehanna Bancshares lowered their price target on Meta Platforms from $ 375.00 to $ 290.00 in a report on Thursday, April 28th. One 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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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