Deccan Value Investors L.P. decreased its holdings in shares of Meta Platforms Inc. (NASDAQ:FB) by 2.3% in the 3rd quarter, Holdings Channel reports. The fund owned 549,400 shares of the social networking company’s stock after selling 12,700 shares during the period. Meta Platforms accounts for 7.4% of Deccan Value Investors L.P.’s investment portfolio, making the stock its 8th largest holding. Deccan Value Investors L.P.’s holdings in Meta Platforms were worth $186,461,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp raised its stake in Meta Platforms by 0.3% during the second quarter. State Street Corp now owns 92,196,339 shares of the social networking company’s stock worth $32,057,589,000 after acquiring an additional 319,155 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Meta Platforms by 2.2% in the third quarter. Geode Capital Management LLC now owns 39,676,595 shares of the social networking company’s stock valued at $13,427,580,000 after buying an additional 865,909 shares during the period. Alliancebernstein L.P. increased its stake in shares of Meta Platforms by 4.0% in the third quarter. Alliancebernstein L.P. now owns 22,343,194 shares of the social networking company’s stock valued at $7,583,056,000 after buying an additional 865,463 shares during the period. Invesco Ltd. increased its stake in shares of Meta Platforms by 3.5% in the second quarter. Invesco Ltd. now owns 16,965,024 shares of the social networking company’s stock valued at $5,898,907,000 after buying an additional 578,836 shares during the period. Finally, Polen Capital Management LLC increased its stake in shares of Meta Platforms by 1.9% in the third quarter. Polen Capital Management LLC now owns 13,234,318 shares of the social networking company’s stock valued at $4,491,595,000 after buying an additional 246,874 shares during the period. 65.55% of the stock is owned by hedge funds and other institutional investors.
In other Meta Platforms news, insider Jennifer Newstead sold 125 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $314.46, for a total value of $39,307.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Susan J.S. Taylor sold 1,378 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $344.22, for a total value of $474,335.16. The disclosure for this sale can be found here. Insiders have sold a total of 24,594 shares of company stock valued at $8,402,369 in the last quarter. 14.01% of the stock is owned by corporate insiders.
FB stock opened at $237.09 on Monday. The company has a market capitalization of $659.53 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.88 and a beta of 1.28. Meta Platforms Inc. has a fifty-two week low of $230.11 and a fifty-two week high of $384.33. The stock has a fifty day moving average of $322.26 and a 200-day moving average of $340.25.
Meta Platforms (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, February 2nd. The social networking company reported $3.67 earnings per share for the quarter, missing the consensus estimate of $3.78 by ($0.11). The firm had revenue of $33.67 billion for the quarter, compared to the consensus estimate of $33.44 billion. Meta Platforms had a return on equity of 29.71% and a net margin of 33.38%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.88 EPS. On average, analysts predict that Meta Platforms Inc. will post 13.33 EPS for the current fiscal year.
Several research analysts have recently issued reports on FB shares. Wells Fargo & Company lowered their price objective on Meta Platforms from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Tuesday, October 26th. China Renaissance Securities cut Meta Platforms from a “buy” rating to a “hold” rating and reduced their target price for the company from $415.00 to $280.00 in a report on Friday. Stifel Nicolaus reduced their target price on Meta Platforms from $400.00 to $350.00 in a report on Thursday. MKM Partners reduced their target price on Meta Platforms from $395.00 to $365.00 in a report on Thursday. Finally, Susquehanna Bancshares reduced their target price on Meta Platforms from $425.00 to $375.00 and set a “positive” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Buy” and an average price target of $345.53.
Meta Platforms Profile
Meta Platforms, Inc, (formerly known as Facebook, Inc) operates as a global social technology company. The company engages in the development of social media applications as well as virtual and augmented reality products allowing users to connect through mobile devices, personal computers and other platforms.
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