Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Boosted by Tremblant Capital Group

Tremblant Capital Group raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,506 shares of the social networking company’s stock after purchasing an additional 704 shares during the quarter. Tremblant Capital Group’s holdings in Meta Platforms were worth $3,224,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock worth $28,719,970,000 after acquiring an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares in the last quarter. Capital World Investors boosted its stake in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after acquiring an additional 1,141,355 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Meta Platforms during the 4th quarter worth $19,949,512,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

NASDAQ META opened at $640.34 on Monday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The stock’s 50-day moving average is $571.37 and its two-hundred day moving average is $607.10. 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 $1.61 trillion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. BMO Capital Markets raised their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. KeyCorp raised their target price on Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Barclays decreased their target price on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $701.05.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $631.25, for a total value of $383,800.00. Following the transaction, the chief operating officer now directly owns 2,582 shares in the company, valued at approximately $1,629,887.50. The trade was a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total value of $677,920.47. Following the completion of the transaction, the insider now owns 35,787 shares in the company, valued at $26,341,737.09. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,852 shares of company stock worth $41,665,958. Company 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.