Waratah Capital Advisors Ltd. Purchases New Position in Meta Platforms, Inc. (NASDAQ:META)

Waratah Capital Advisors Ltd. purchased a new stake in Meta Platforms, Inc. (NASDAQ:METAGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 29,527 shares of the social networking company’s stock, valued at approximately $6,566,000.

Several other institutional investors have also bought and sold shares of META. Barnett & Company Inc. boosted its stake in Meta Platforms by 105.0% in the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock worth $28,000 after purchasing an additional 42 shares in the last quarter. Wealth Dimensions Group Ltd. boosted its stake in Meta Platforms by 3.2% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 1,473 shares of the social networking company’s stock worth $495,000 after purchasing an additional 46 shares in the last quarter. Certified Advisory Corp boosted its stake in Meta Platforms by 3.8% in the fourth quarter. Certified Advisory Corp now owns 1,341 shares of the social networking company’s stock worth $451,000 after purchasing an additional 49 shares in the last quarter. Beaton Management Co. Inc. boosted its stake in Meta Platforms by 0.5% in the fourth quarter. Beaton Management Co. Inc. now owns 9,372 shares of the social networking company’s stock worth $3,152,000 after purchasing an additional 50 shares in the last quarter. Finally, Delta Financial Advisors LLC boosted its stake in Meta Platforms by 0.7% in the fourth quarter. Delta Financial Advisors LLC now owns 6,804 shares of the social networking company’s stock worth $2,289,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock traded down $3.46 during mid-day trading on Friday, reaching $167.11. 25,832,699 shares of the company were exchanged, compared to its average volume of 30,145,862. The company has a fifty day simple moving average of $166.98 and a 200-day simple moving average of $182.37. Meta Platforms, Inc. has a 12 month low of $154.25 and a 12 month high of $384.33. The firm has a market cap of $449.12 billion, a PE ratio of 13.85, a PEG ratio of 2.26 and a beta of 1.32.

Meta Platforms (NASDAQ:METAGet Rating) last posted its quarterly earnings data 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). Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The company had revenue of $28.82 billion for the quarter, compared to the consensus estimate of $28.95 billion. During the same quarter last year, the business earned $3.61 EPS. Meta Platforms’s revenue was down .9% on a year-over-year basis. Sell-side analysts anticipate that Meta Platforms, Inc. will post 9.58 earnings per share for the current year.

Insider Activity

In other news, insider Jennifer Newstead sold 311 shares of Meta Platforms stock in a transaction 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 transaction, the insider now owns 12,187 shares in the company, valued at approximately $2,432,525.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total transaction of $62,075.60. Following the sale, the insider now owns 12,187 shares of the company’s stock, valued at approximately $2,432,525.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 11,718 shares of the firm’s stock in a transaction on Sunday, May 15th. The shares were sold at an average price of $198.62, for a total value of $2,327,429.16. Following the sale, 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. In the last quarter, insiders have sold 45,236 shares of company stock worth $8,958,728. Insiders own 13.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Truist Financial reduced their price objective on Meta Platforms from $320.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Wolfe Research cut their price target on Meta Platforms from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. KeyCorp cut their price target on Meta Platforms from $280.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 26th. Susquehanna cut their price target on Meta Platforms from $375.00 to $290.00 in a research note on Thursday, April 28th. Finally, Moffett Nathanson cut their price target on Meta Platforms to $280.00 in a research note on Thursday, May 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $257.98.

Meta Platforms Profile

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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.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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