9,451 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Griffith & Werner Inc.

Griffith & Werner Inc. purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,451 shares of the social networking company’s stock, valued at approximately $5,533,000. Meta Platforms accounts for 3.7% of Griffith & Werner Inc.’s investment portfolio, making the stock its 6th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at $47,000. Finally, Conquis Financial LLC bought a new position in Meta Platforms during the fourth quarter valued at about $59,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of several recent analyst reports. Wedbush lifted their price target on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Barclays reduced their price target on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Piper Sandler lifted their price target on Meta Platforms from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Jefferies Financial Group decreased their price objective on Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Mizuho lifted their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $701.05.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the sale, the chief technology officer now owns 16,463 shares in the company, valued at $10,855,043.68. This represents a 23.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $665.75, for a total value of $613,155.75. Following the completion of the sale, the insider now owns 34,866 shares in the company, valued at $23,212,039.50. This represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,157 shares of company stock valued at $49,411,000 over the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 1.5%

META stock opened at $627.06 on Friday. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $1.58 trillion, a PE ratio of 26.21, a PEG ratio of 1.42 and a beta of 1.24. The firm’s 50 day moving average price is $574.80 and its 200-day moving average price is $608.90.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the firm earned $4.71 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms 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.