Ruffer LLP Cuts Stake in Meta Platforms, Inc. (NASDAQ:META)

Ruffer LLP decreased its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 31.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,518 shares of the social networking company’s stock after selling 33,962 shares during the period. Meta Platforms makes up 1.0% of Ruffer LLP’s portfolio, making the stock its 23rd biggest position. Ruffer LLP’s holdings in Meta Platforms were worth $26,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of META. Addison Advisors LLC grew its holdings in Meta Platforms by 3.9% during the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after purchasing an additional 25 shares in the last quarter. Smithfield Trust Co grew its stake in shares of Meta Platforms by 0.5% during the fourth quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company’s stock valued at $1,730,000 after acquiring an additional 25 shares in the last quarter. American National Bank increased its position in shares of Meta Platforms by 1.6% during the fourth quarter. American National Bank now owns 1,590 shares of the social networking company’s stock worth $563,000 after acquiring an additional 25 shares during the last quarter. WoodTrust Financial Corp lifted its stake in shares of Meta Platforms by 1.8% in the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after acquiring an additional 27 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners boosted its holdings in Meta Platforms by 0.6% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META traded down $7.72 during trading hours on Thursday, reaching $466.64. The company had a trading volume of 3,796,885 shares, compared to its average volume of 17,193,744. The firm has a market capitalization of $1.18 trillion, a PE ratio of 26.82, a PEG ratio of 1.24 and a beta of 1.21. The stock has a 50-day moving average of $482.74 and a two-hundred day moving average of $429.26. Meta Platforms, Inc. has a one year low of $258.45 and a one year high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $495.00, for a total transaction of $289,575.00. Following the sale, the insider now owns 41,323 shares of the company’s stock, valued at approximately $20,454,885. The disclosure for this sale can be found here. Insiders sold 731,469 shares of company stock valued at $363,443,903 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BNP Paribas initiated coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. TD Cowen reduced their price objective on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. BMO Capital Markets boosted their target price on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Wolfe Research reduced their price target on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Finally, Monness Crespi & Hardt boosted their price objective on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Read Our Latest Analysis on Meta Platforms

About Meta Platforms

(Free Report)

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

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