Audent Global Asset Management LLC Buys New Stake in Meta Platforms, Inc. (NASDAQ:META)

Posted by on Jun 14th, 2023

Audent Global Asset Management LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,256 shares of the social networking company’s stock, valued at approximately $392,000. Meta Platforms accounts for about 0.7% of Audent Global Asset Management LLC’s portfolio, making the stock its 27th biggest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Riverpoint Wealth Management Holdings LLC bought a new stake in Meta Platforms during the fourth quarter worth about $25,000. NewSquare Capital LLC bought a new stake in Meta Platforms during the fourth quarter worth about $26,000. Arcadia Investment Management Corp MI bought a new stake in Meta Platforms during the fourth quarter worth about $26,000. Horan Securities Inc. bought a new stake in Meta Platforms during the fourth quarter worth about $27,000. Finally, New Millennium Group LLC bought a new stake in Meta Platforms during the fourth quarter worth about $27,000. Institutional investors own 60.92% of the company’s stock.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 722 shares of Meta Platforms stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $270.14, for a total value of $195,041.08. Following the completion of the transaction, the insider now owns 36,644 shares of the company’s stock, valued at approximately $9,899,010.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jennifer Newstead sold 722 shares of Meta Platforms stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $270.14, for a total value of $195,041.08. Following the completion of the transaction, the insider now owns 36,644 shares of the company’s stock, valued at approximately $9,899,010.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Clegg sold 2,146 shares of Meta Platforms stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $233.81, for a total transaction of $501,756.26. Following the completion of the transaction, the insider now directly owns 9,931 shares of the company’s stock, valued at approximately $2,321,967.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,027 shares of company stock valued at $8,920,773. Corporate insiders own 14.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on META shares. Bank of America upped their price objective on shares of Meta Platforms from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. Stifel Nicolaus upped their target price on shares of Meta Platforms from $230.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Arete Research reiterated a “sell” rating on shares of Meta Platforms in a research report on Monday, March 6th. Morgan Stanley upped their target price on shares of Meta Platforms from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, April 27th. Finally, Evercore ISI upped their target price on shares of Meta Platforms from $305.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $247.11.

Meta Platforms Stock Up 0.1 %

Meta Platforms stock opened at $271.32 on Wednesday. The company has a market cap of $695.32 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 1.01 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $88.09 and a 1-year high of $276.57. The company has a fifty day simple moving average of $239.09 and a 200 day simple moving average of $185.23. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.08.

Meta Platforms Profile

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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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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