Wormser Freres Gestion Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Wormser Freres Gestion cut its position in Meta Platforms, Inc. (NASDAQ:META) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,040 shares of the social networking company’s stock after selling 16 shares during the period. Meta Platforms accounts for 4.2% of Wormser Freres Gestion’s investment portfolio, making the stock its 14th largest holding. Wormser Freres Gestion’s holdings in Meta Platforms were worth $7,126,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ballentine Partners LLC increased its position in shares of Meta Platforms by 1.4% in the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after purchasing an additional 808 shares during the last quarter. Suvretta Capital Management LLC boosted its holdings in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock valued at $99,735,000 after buying an additional 1,850 shares in the last quarter. Skye Global Management LP boosted its holdings in shares of Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after buying an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $459,000. Finally, Apollon Financial LLC boosted its holdings in shares of Meta Platforms by 11.1% in the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock valued at $866,000 after buying an additional 148 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 1.5%

Shares of Meta Platforms stock opened at $627.06 on Friday. The company has a market cap of $1.58 trillion, a P/E ratio of 26.21, a PEG ratio of 1.42 and a beta of 1.24. 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, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a fifty day moving average of $574.80 and a two-hundred day moving average of $608.90.

Meta Platforms (NASDAQ:META) last announced 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. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate 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 was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.71 EPS. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Ratings Changes

META has been the subject of several research analyst reports. Rosenblatt Securities upped their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a report on Thursday, May 1st. UBS Group upped their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Jefferies Financial Group lowered their target price on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a report on Monday, April 7th. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, JMP Securities restated a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $701.05.

Insider Activity

In other news, 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 value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $686.28, for a total transaction of $417,258.24. Following the completion of the transaction, the chief operating officer now owns 9,270 shares of the company’s stock, valued at $6,361,815.60. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,157 shares of company stock worth $49,411,000 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

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.