Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by RB Capital Management LLC

RB Capital Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,874 shares of the social networking company’s stock after acquiring an additional 120 shares during the period. Meta Platforms comprises approximately 2.0% of RB Capital Management LLC’s portfolio, making the stock its 11th largest position. RB Capital Management LLC’s holdings in Meta Platforms were worth $8,709,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Regent Peak Wealth Advisors LLC grew its stake in shares of Meta Platforms by 5.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock worth $2,939,000 after purchasing an additional 277 shares in the last quarter. Fjell Capital LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $334,000. Finally, Arbor Trust Wealth Advisors LLC grew its stake in shares of Meta Platforms by 7.0% during the fourth quarter. Arbor Trust Wealth Advisors LLC now owns 2,813 shares of the social networking company’s stock worth $1,647,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of analyst reports. Oppenheimer boosted their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Argus set a $775.00 target price on shares of Meta Platforms in a research note on Tuesday, February 4th. Mizuho upped their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Scotiabank dropped their price objective on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a report on Monday, April 21st. Finally, JMP Securities reissued a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $701.05.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,161 shares of company stock worth $51,551,150 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $635.50 on Thursday. The company has a market cap of $1.60 trillion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The business has a fifty day moving average of $573.28 and a two-hundred day moving average of $608.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS 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 analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.71 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

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.