Meta Platforms, Inc. (NASDAQ:META) is ProShare Advisors LLC’s 7th Largest Position

ProShare Advisors LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329,341 shares of the social networking company’s stock after selling 217,764 shares during the quarter. Meta Platforms comprises approximately 1.8% of ProShare Advisors LLC’s holdings, making the stock its 7th largest position. ProShare Advisors LLC owned about 0.05% of Meta Platforms worth $778,342,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quadcap Wealth Management LLC boosted its position in shares of Meta Platforms by 1.5% during the 4th quarter. Quadcap Wealth Management LLC now owns 11,839 shares of the social networking company’s stock valued at $6,932,000 after acquiring an additional 172 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Meta Platforms by 25.1% during the 4th quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company’s stock valued at $215,760,000 after acquiring an additional 73,907 shares during the last quarter. Panoramic Capital LLC bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $9,648,000. Parkwood LLC boosted its position in shares of Meta Platforms by 2.6% during the 4th quarter. Parkwood LLC now owns 25,984 shares of the social networking company’s stock valued at $15,214,000 after acquiring an additional 661 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $18,842,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

NASDAQ:META opened at $659.36 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market cap of $1.67 trillion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a 50 day moving average price of $569.76 and a 200-day moving average price of $605.94. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.71 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. Citigroup increased their target price on Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Jefferies Financial Group lowered their target price on Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Pivotal Research lowered their price target on Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Oppenheimer raised their price target on Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $696.45.

Insider Activity

In other news, COO Javier Olivan sold 608 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the sale, the chief operating officer now owns 5,622 shares of the company’s stock, valued at $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the sale, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This represents a 14.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,932 shares of company stock worth $69,021,252 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.