Belpointe Asset Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 19.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,944 shares of the social networking company’s stock after buying an additional 6,234 shares during the period. Belpointe Asset Management LLC’s holdings in Meta Platforms were worth $8,042,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in META. Credit Suisse AG acquired a new position in shares of Meta Platforms in the 4th quarter valued at $481,262,000. Catalyst Financial Partners LLC boosted its holdings in Meta Platforms by 18.7% during the first quarter. Catalyst Financial Partners LLC now owns 4,287 shares of the social networking company’s stock valued at $909,000 after purchasing an additional 675 shares in the last quarter. Hall Capital Management Co. Inc. bought a new stake in shares of Meta Platforms in the 1st quarter valued at approximately $205,000. Audent Global Asset Management LLC acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $392,000. Finally, Hunter Associates Investment Management LLC lifted its position in shares of Meta Platforms by 5.4% during the 1st quarter. Hunter Associates Investment Management LLC now owns 1,939 shares of the social networking company’s stock worth $411,000 after buying an additional 100 shares during the period. 62.87% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Stock Performance
NASDAQ META opened at $307.56 on Tuesday. Meta Platforms, Inc. has a 12-month low of $88.09 and a 12-month high of $326.20. The firm has a 50-day moving average price of $300.68 and a two-hundred day moving average price of $255.21. The company has a market capitalization of $791.40 billion, a P/E ratio of 35.85, a P/E/G ratio of 0.98 and a beta of 1.23. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.14.
Insiders Place Their Bets
In other news, insider Jennifer Newstead sold 722 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $278.73, for a total value of $201,243.06. Following the sale, the insider now directly owns 35,200 shares in the company, valued at approximately $9,811,296. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Jennifer Newstead sold 722 shares of the business’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $278.73, for a total transaction of $201,243.06. Following the sale, the insider now directly owns 35,200 shares in the company, valued at $9,811,296. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 4,277 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $293.00, for a total transaction of $1,253,161.00. Following the transaction, the chief operating officer now directly owns 82,858 shares of the company’s stock, valued at approximately $24,277,394. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,509 shares of company stock valued at $12,269,572. 13.75% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Sanford C. Bernstein increased their price objective on Meta Platforms from $350.00 to $375.00 in a research note on Thursday, July 27th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Wednesday, August 2nd. Wedbush began coverage on shares of Meta Platforms in a research note on Monday, August 21st. They set an “outperform” rating and a $350.00 price objective on the stock. KeyCorp lifted their target price on shares of Meta Platforms from $280.00 to $335.00 in a research note on Thursday, July 6th. Finally, Barclays increased their price target on Meta Platforms from $320.00 to $410.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.79.
Read Our Latest Stock Report on Meta Platforms
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.
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