Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Two Star Manager LLC

Two Star Manager LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,111 shares of the social networking company’s stock after buying an additional 505 shares during the period. Meta Platforms makes up approximately 7.4% of Two Star Manager LLC’s holdings, making the stock its 4th largest position. Two Star Manager LLC’s holdings in Meta Platforms were worth $15,874,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in META. State of Wyoming grew its position in shares of Meta Platforms by 105.5% in the fourth quarter. State of Wyoming now owns 11,375 shares of the social networking company’s stock valued at $6,660,000 after purchasing an additional 5,840 shares during the last quarter. Stonebrook Private Inc. grew its position in shares of Meta Platforms by 5.2% in the fourth quarter. Stonebrook Private Inc. now owns 5,279 shares of the social networking company’s stock valued at $3,091,000 after purchasing an additional 263 shares during the last quarter. Strategic Global Advisors LLC grew its position in shares of Meta Platforms by 4.3% in the fourth quarter. Strategic Global Advisors LLC now owns 21,263 shares of the social networking company’s stock valued at $12,450,000 after purchasing an additional 867 shares during the last quarter. Strategic Wealth Partners Ltd. grew its position in shares of Meta Platforms by 97.5% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 5,426 shares of the social networking company’s stock valued at $3,177,000 after purchasing an additional 2,678 shares during the last quarter. Finally, Strive Asset Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $1,218,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of several research reports. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Cantor Fitzgerald raised their target price on shares of Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Jefferies Financial Group decreased their target price on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Stifel Nicolaus raised their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $701.05.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 608 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 907 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $645.77, for a total transaction of $585,713.39. Following the completion of the sale, the insider now owns 24,749 shares of the company’s stock, valued at $15,982,161.73. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,852 shares of company stock valued at $41,665,958 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.5%

NASDAQ META opened at $640.34 on Friday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company’s 50 day simple moving average is $571.37 and its 200 day simple moving average is $606.82. 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 company has a market capitalization of $1.61 trillion, a P/E ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24.

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

About Meta Platforms

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.