Viawealth LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,371 shares of the social networking company’s stock, valued at approximately $291,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in Meta Platforms during the 1st quarter worth approximately $66,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Meta Platforms by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock worth $499,020,000 after purchasing an additional 249,926 shares during the period. Ergoteles LLC grew its stake in shares of Meta Platforms by 284.0% in the first quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock worth $746,000 after purchasing an additional 2,482 shares during the last quarter. First Western Trust Bank acquired a new stake in Meta Platforms in the first quarter valued at $813,000. Finally, Oxford Financial Group Ltd. raised its position in Meta Platforms by 26.9% during the 1st quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock worth $420,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 62.87% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on META shares. Oppenheimer upped their price target on Meta Platforms from $350.00 to $385.00 in a research report on Thursday, July 27th. Guggenheim increased their target price on shares of Meta Platforms from $320.00 to $375.00 in a research report on Thursday, July 27th. Truist Financial boosted their price target on shares of Meta Platforms from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. New Street Research upgraded shares of Meta Platforms from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research report on Tuesday, July 25th. Finally, Evercore ISI lifted their target price on shares of Meta Platforms from $350.00 to $435.00 in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, forty-four have issued a buy rating and one has issued 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 $319.79.
Insider Buying and Selling at Meta Platforms
In other news, insider Jennifer Newstead sold 722 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $317.67, for a total value of $229,357.74. Following the completion of the transaction, the insider now directly owns 30,868 shares in the company, valued at $9,805,837.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Nicholas Clegg sold 2,146 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $657,083.74. Following the transaction, the insider now owns 12,631 shares of the company’s stock, valued at approximately $3,867,485.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 722 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $317.67, for a total transaction of $229,357.74. Following the transaction, the insider now directly owns 30,868 shares in the company, valued at approximately $9,805,837.56. The disclosure for this sale can be found here. Insiders sold 41,231 shares of company stock valued at $12,468,122 in the last quarter. 13.75% of the stock is currently owned by corporate insiders.
Meta Platforms Stock Performance
Shares of META stock opened at $297.89 on Friday. The firm’s 50 day moving average is $300.47 and its 200 day moving average is $253.18. The stock has a market capitalization of $766.52 billion, a P/E ratio of 34.72, a PEG ratio of 0.98 and a beta of 1.23. Meta Platforms, Inc. has a 12 month low of $88.09 and a 12 month high of $326.20. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.14.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.87 by $0.36. The company had revenue of $32 billion during the quarter, compared to the consensus estimate of $30.91 billion. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 13.17 earnings per share for the current year.
Meta Platforms 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.
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