Brucke Financial Inc. Buys Shares of 5,632 Meta Platforms, Inc. (NASDAQ:META)

Brucke Financial Inc. bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,632 shares of the social networking company’s stock, valued at approximately $3,298,000. Meta Platforms makes up 2.9% of Brucke Financial Inc.’s investment portfolio, making the stock its 7th biggest holding.

A number of other large investors have also recently modified their holdings of the business. Suvretta Capital Management LLC grew its position in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after acquiring an additional 1,850 shares during the last quarter. Skye Global Management LP lifted its holdings in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after buying an additional 43,200 shares during the period. Brueske Advisory Services LLC acquired a new position in Meta Platforms during the 4th quarter worth about $459,000. Apollon Financial LLC lifted its holdings in Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after buying an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its holdings in Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock worth $1,001,044,000 after buying an additional 1,229,350 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total transaction of $329,824.50. Following the transaction, the insider now directly owns 30,740 shares in the company, valued at approximately $19,535,270. This trade represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the sale, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,549 shares of company stock valued at $48,993,741. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

META has been the topic of several recent research reports. Roth Capital lifted their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Robert W. Baird lifted their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Guggenheim boosted their target price on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Truist Financial lifted their price target on Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Mizuho raised their target price on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $701.05.

Meta Platforms Stock Down 1.5%

Shares of NASDAQ META opened at $627.06 on Monday. The firm’s 50-day moving average price is $574.80 and its 200-day moving average price is $609.28. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

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

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.