Capital Advisors Ltd. LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,927 shares of the social networking company’s stock after purchasing an additional 105 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Meta Platforms were worth $651,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of META. Lake Street Financial LLC increased its position in shares of Meta Platforms by 3.3% in the 1st quarter. Lake Street Financial LLC now owns 21,001 shares of the social networking company’s stock worth $4,670,000 after purchasing an additional 667 shares during the last quarter. Meitav Dash Investments Ltd. grew its stake in Meta Platforms by 16.4% in the first quarter. Meitav Dash Investments Ltd. now owns 391,317 shares of the social networking company’s stock worth $86,818,000 after purchasing an additional 55,055 shares in the last quarter. Banco Santander S.A. increased its holdings in Meta Platforms by 6.4% in the first quarter. Banco Santander S.A. now owns 226,749 shares of the social networking company’s stock valued at $50,420,000 after buying an additional 13,540 shares during the last quarter. Wealthsource Partners LLC raised its stake in Meta Platforms by 283.2% during the first quarter. Wealthsource Partners LLC now owns 30,771 shares of the social networking company’s stock valued at $6,842,000 after buying an additional 22,742 shares in the last quarter. Finally, Lindenwold Advisors raised its stake in Meta Platforms by 1.1% during the first quarter. Lindenwold Advisors now owns 6,926 shares of the social networking company’s stock valued at $1,540,000 after buying an additional 72 shares in the last quarter. 65.49% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Meta Platforms
In other news, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total value of $62,075.60. Following the sale, the insider now directly owns 12,187 shares of the company’s stock, valued at $2,432,525.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jennifer Newstead sold 311 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total value of $62,075.60. Following the completion of the sale, the insider now directly owns 12,187 shares of the company’s stock, valued at $2,432,525.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,718 shares of the business’s stock in a transaction on Sunday, May 15th. The stock was sold at an average price of $198.62, for a total transaction of $2,327,429.16. Following the transaction, the chief technology officer now directly owns 11,913 shares in the company, valued at approximately $2,366,160.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,236 shares of company stock worth $8,958,728. 13.59% of the stock is owned by insiders.
Meta Platforms Stock Down 2.0 %
Meta Platforms (NASDAQ:META – Get Rating) last issued its earnings results on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). The firm had revenue of $28.82 billion during the quarter, compared to analysts’ expectations of $28.95 billion. Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.61 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 9.58 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on META shares. Royal Bank of Canada lowered their price target on Meta Platforms from $245.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, April 13th. Moffett Nathanson lowered their target price on shares of Meta Platforms to $280.00 in a research note on Thursday, May 26th. Needham & Company LLC downgraded shares of Meta Platforms from a “hold” rating to an “underperform” rating in a research report on Monday, July 11th. The Goldman Sachs Group lowered their price objective on shares of Meta Platforms from $290.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Guggenheim decreased their target price on Meta Platforms from $275.00 to $250.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.98.
Meta Platforms Profile
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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