Chancellor Financial Group WB LP Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Chancellor Financial Group WB LP bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,360 shares of the social networking company’s stock, valued at approximately $796,000.

Other large investors have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms in the fourth quarter valued at approximately $47,000. Finally, Conquis Financial LLC bought a new stake in Meta Platforms during the fourth quarter worth $59,000. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on META shares. DA Davidson dropped their price objective on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Susquehanna dropped their target price on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Mizuho increased 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. Finally, Loop Capital raised their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, four have assigned 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $701.05.

Insider Activity

In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The stock was 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 of the company’s stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,628 shares of company stock valued at $48,380,586 in the last 90 days. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $642.32 on Wednesday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. 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 business has a fifty day simple moving average of $576.79 and a two-hundred day simple moving average of $609.77. The firm has a market capitalization of $1.62 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter in the previous year, the business earned $4.71 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share 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.