RS Crum Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 906 shares of the social networking company’s stock, valued at approximately $260,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of META. Sageworth Trust Co acquired a new position in shares of Meta Platforms during the first quarter worth about $26,000. MBM Wealth Consultants LLC purchased a new stake in Meta Platforms during the fourth quarter worth about $26,000. HBC Financial Services PLLC boosted its holdings in Meta Platforms by 2,500.0% during the first quarter. HBC Financial Services PLLC now owns 130 shares of the social networking company’s stock worth $28,000 after buying an additional 125 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in Meta Platforms during the second quarter worth about $30,000. Finally, Red Tortoise LLC boosted its holdings in Meta Platforms by 32.2% during the first quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock worth $40,000 after buying an additional 46 shares in the last quarter. 62.87% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Up 1.8 %
NASDAQ META traded up $5.97 during trading hours on Tuesday, reaching $335.16. 2,711,729 shares of the company traded hands, compared to its average volume of 25,329,910. Meta Platforms, Inc. has a 12 month low of $108.32 and a 12 month high of $335.71. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $861.31 billion, a PE ratio of 29.05, a PEG ratio of 1.09 and a beta of 1.21. The company has a 50 day moving average of $308.71 and a two-hundred day moving average of $290.35.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The social networking company reported $4.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.77. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. The company had revenue of $34.15 billion for the quarter, compared to the consensus estimate of $33.58 billion. During the same period last year, the firm posted $1.64 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities analysts expect that Meta Platforms, Inc. will post 14.13 earnings per share for the current year.
Insider Transactions at Meta Platforms
In other news, CEO Mark Zuckerberg sold 28,009 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $325.80, for a total value of $9,125,332.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 28,009 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $325.80, for a total value of $9,125,332.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 670 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $292.55, for a total transaction of $196,008.50. Following the completion of the sale, the insider now directly owns 39,690 shares in the company, valued at approximately $11,611,309.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,341 shares of company stock worth $39,293,937. 14.03% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
META has been the topic of a number of research analyst reports. Loop Capital boosted their price objective on shares of Meta Platforms from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Bank of America boosted their price objective on shares of Meta Platforms from $350.00 to $375.00 in a report on Thursday, July 27th. Citigroup reaffirmed a “buy” rating and issued a $385.00 price target on shares of Meta Platforms in a report on Friday, September 22nd. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $300.00 to $335.00 and gave the company a “buy” rating in a report on Monday, July 17th. Finally, Robert W. Baird upped their price target on shares of Meta Platforms from $260.00 to $355.00 in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $346.65.
Get Our Latest Analysis on Meta Platforms
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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