Warm Springs Advisors Inc. Invests $439,000 in Meta Platforms, Inc. (NASDAQ:META)

Warm Springs Advisors Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 749 shares of the social networking company’s stock, valued at approximately $439,000.

A number of other hedge funds also recently made changes to their positions in META. Valley Financial Group Inc. increased its holdings in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after purchasing an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after acquiring an additional 14 shares during the period. Seelaus Asset Management LLC grew its holdings in shares of Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after acquiring an additional 15 shares during the period. Meredith Wealth Planning grew its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after acquiring an additional 15 shares during the period. Finally, Maiden Cove Capital LLC grew its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after acquiring an additional 15 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $627.06 on Friday. The stock’s 50-day simple moving average is $574.80 and its 200-day simple moving average is $608.90. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its earnings results 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 company had revenue of $42.31 billion for the quarter, compared to the consensus estimate 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 business earned $4.71 earnings per share. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

META has been the subject of several research analyst reports. TD Securities cut their price objective on Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Cantor Fitzgerald lifted their price objective on Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Morgan Stanley lifted their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, Oppenheimer lifted their price objective on Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $701.05.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total value of $329,824.50. Following the sale, the insider now directly owns 30,740 shares in the company, valued at approximately $19,535,270. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert M. Kimmitt sold 475 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the completion of the sale, the director now owns 10,272 shares in the company, valued at $6,453,384. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,157 shares of company stock worth $49,411,000. Corporate insiders own 13.71% of the company’s stock.

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.