Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 5.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,000 shares of the social networking company’s stock after purchasing an additional 10,000 shares during the quarter. Meta Platforms makes up approximately 0.6% of Ilmarinen Mutual Pension Insurance Co’s holdings, making the stock its 14th biggest position. Ilmarinen Mutual Pension Insurance Co’s holdings in Meta Platforms were worth $44,507,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Ashburton Jersey Ltd acquired a new stake in shares of Meta Platforms during the first quarter worth about $42,000. Gerber Kawasaki Wealth & Investment Management raised its position in Meta Platforms by 2.7% in the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 6,947 shares of the social networking company’s stock valued at $1,472,000 after purchasing an additional 182 shares in the last quarter. KB Financial Partners LLC purchased a new position in shares of Meta Platforms in the 1st quarter valued at approximately $2,411,000. Chilton Capital Management LLC lifted its stake in shares of Meta Platforms by 2.0% during the first quarter. Chilton Capital Management LLC now owns 68,168 shares of the social networking company’s stock worth $14,448,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Meta Platforms by 4.3% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 315,842 shares of the social networking company’s stock worth $65,822,000 after buying an additional 13,004 shares in the last quarter. 62.87% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Meta Platforms
In other news, insider Jennifer Newstead sold 722 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was 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 related news, insider Jennifer Newstead sold 722 shares of the firm’s stock in a transaction on 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 owns 35,200 shares of the company’s stock, valued at approximately $9,811,296. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 8,032 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $2,459,318.08. Following the sale, the chief technology officer now owns 11,588 shares of the company’s stock, valued at $3,548,129.72. The disclosure for this sale can be found here. Insiders have sold 40,509 shares of company stock worth $12,269,572 over the last 90 days. 13.75% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on META
Meta Platforms Trading Down 1.9 %
NASDAQ:META opened at $301.66 on Wednesday. The firm has a market cap of $776.22 billion, a P/E ratio of 35.16, a PEG ratio of 0.98 and a beta of 1.23. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $301.12 and its 200-day simple moving average is $256.17. Meta Platforms, Inc. has a 12-month low of $88.09 and a 12-month high of $326.20.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings results 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. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. The company had revenue of $32 billion during the quarter, compared to analyst estimates of $30.91 billion. Equities analysts anticipate that Meta Platforms, Inc. will post 13.17 EPS for the current 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.
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