Thrivent Financial for Lutherans reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,480,647 shares of the social networking company’s stock after selling 10,085 shares during the quarter. Meta Platforms accounts for approximately 0.8% of Thrivent Financial for Lutherans’ holdings, making the stock its 8th largest holding. Thrivent Financial for Lutherans owned about 0.06% of Meta Platforms worth $313,782,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fairfield Bush & CO. purchased a new stake in Meta Platforms during the 1st quarter worth $66,000. Mirae Asset Global Investments Co. Ltd. increased its position 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 acquiring an additional 249,926 shares during the last quarter. Ergoteles LLC boosted its holdings in Meta Platforms by 284.0% in the first quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock valued at $746,000 after purchasing an additional 2,482 shares during the last quarter. First Western Trust Bank acquired a new stake in Meta Platforms during the 1st quarter valued at approximately $813,000. Finally, Oxford Financial Group Ltd. increased its holdings 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. 62.87% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 10,643 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $3,258,780.17. Following the completion of the sale, the chief financial officer now directly owns 91,617 shares in the company, valued at $28,052,209.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Andrew Bosworth sold 8,032 shares of Meta Platforms stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $2,459,318.08. Following the transaction, the chief technology officer now owns 11,588 shares in the company, valued at approximately $3,548,129.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 10,643 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $3,258,780.17. Following the sale, the chief financial officer now owns 91,617 shares of the company’s stock, valued at $28,052,209.23. The disclosure for this sale can be found here. Insiders sold 40,509 shares of company stock valued at $12,269,572 in the last three months. Corporate insiders own 13.75% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on META
Meta Platforms Stock Performance
Shares of Meta Platforms stock opened at $301.66 on Wednesday. Meta Platforms, Inc. has a 12 month low of $88.09 and a 12 month high of $326.20. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.14. The stock has a market cap of $776.22 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 0.98 and a beta of 1.23. The business has a fifty day simple moving average of $301.12 and a 200-day simple moving average of $256.17.
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, July 26th. The social networking company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.36. The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $30.91 billion. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 13.17 EPS for the current fiscal year.
About Meta Platforms
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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