Sharper & Granite LLC cut its position in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 17.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,506 shares of the social networking company’s stock after selling 515 shares during the period. Sharper & Granite LLC’s holdings in Meta Platforms were worth $531,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of META. Worth Asset Management LLC increased its position in shares of Meta Platforms by 248.6% during the first quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Rise Advisors LLC grew its holdings in shares of Meta Platforms by 59.3% in the first quarter. Rise Advisors LLC now owns 137 shares of the social networking company’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Riverpoint Wealth Management Holdings LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $25,000. Ruedi Wealth Management Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $25,000. Finally, MBM Wealth Consultants LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $26,000. 62.54% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Meta Platforms
In related news, insider Jennifer Newstead sold 375 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $231.08, for a total value of $86,655.00. Following the sale, the insider now directly owns 27,813 shares of the company’s stock, valued at approximately $6,427,028.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Javier Olivan sold 4,274 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $239.34, for a total transaction of $1,022,939.16. Following the completion of the sale, the chief operating officer now owns 74,983 shares of the company’s stock, valued at approximately $17,946,431.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 375 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $231.08, for a total transaction of $86,655.00. Following the sale, the insider now owns 27,813 shares of the company’s stock, valued at $6,427,028.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,078 shares of company stock valued at $9,240,685. Insiders own 13.75% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on META shares. JMP Securities lifted their price objective on shares of Meta Platforms from $270.00 to $300.00 in a report on Monday, June 5th. Citigroup lifted their price target on shares of Meta Platforms from $260.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. UBS Group lifted their price target on shares of Meta Platforms from $235.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Barclays lifted their price target on shares of Meta Platforms from $270.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, April 27th. Finally, Raymond James lifted their price target on shares of Meta Platforms from $238.00 to $287.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.07.
Meta Platforms Stock Performance
NASDAQ:META opened at $288.73 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.08. Meta Platforms, Inc. has a fifty-two week low of $88.09 and a fifty-two week high of $289.67. The stock has a market cap of $739.94 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. The firm’s fifty day simple moving average is $249.66 and its 200-day simple moving average is $194.01.
Meta Platforms (NASDAQ:META – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The social networking company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.68. The firm had revenue of $28.65 billion for the quarter, compared to analysts’ expectations of $27.49 billion. Meta Platforms had a net margin of 18.27% and a return on equity of 20.67%. Analysts expect that Meta Platforms, Inc. will post 11.94 earnings per share for the current fiscal year.
Meta Platforms Company Profile
Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, 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, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.