Compass Advisory Group LLC Invests $365,000 in Meta Platforms, Inc. (NASDAQ:META)

Compass Advisory Group LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,273 shares of the social networking company’s stock, valued at approximately $365,000.

A number of other institutional investors and hedge funds have also made changes to their positions in META. BlackRock Inc. boosted its holdings in Meta Platforms by 0.8% during the first quarter. BlackRock Inc. now owns 152,934,920 shares of the social networking company’s stock worth $32,413,027,000 after buying an additional 1,172,997 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Meta Platforms by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,803,774 shares of the social networking company’s stock valued at $8,859,893,000 after purchasing an additional 6,735,038 shares in the last quarter. Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $4,223,148,000. Morgan Stanley purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $4,072,543,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Meta Platforms by 26.2% in the first quarter. Wellington Management Group LLP now owns 23,282,291 shares of the social networking company’s stock valued at $4,934,449,000 after purchasing an additional 4,833,063 shares in the last quarter. 62.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 670 shares of Meta Platforms stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $292.55, for a total value of $196,008.50. Following the sale, the insider now directly owns 39,690 shares in the company, valued at approximately $11,611,309.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 10,643 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $3,258,780.17. Following the sale, the chief financial officer now directly owns 91,617 shares in the company, valued at approximately $28,052,209.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 670 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $292.55, for a total transaction of $196,008.50. Following the sale, the insider now owns 39,690 shares in the company, valued at $11,611,309.50. The disclosure for this sale can be found here. Insiders have sold a total of 40,405 shares of company stock worth $12,272,635 in the last ninety days. 13.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial upped their price target on shares of Meta Platforms from $340.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $350.00 to $375.00 in a report on Thursday, July 27th. Loop Capital upped their price target on shares of Meta Platforms from $365.00 to $375.00 and gave the company a “buy” rating in a report on Friday, August 18th. Piper Sandler raised their target price on shares of Meta Platforms from $310.00 to $365.00 in a research report on Thursday, July 27th. Finally, 92 Resources restated a “maintains” rating on shares of Meta Platforms in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $320.34.

Meta Platforms Trading Up 2.1 %

NASDAQ META opened at $303.96 on Friday. Meta Platforms, Inc. has a one year low of $88.09 and a one year high of $326.20. The company has a 50-day simple moving average of $301.00 and a 200-day simple moving average of $266.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.32 and a current ratio of 2.32. The firm has a market capitalization of $782.14 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 0.97 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.36. The firm had revenue of $32 billion for the quarter, compared to the consensus estimate of $30.91 billion. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. On average, equities analysts forecast that Meta Platforms, Inc. will post 13.26 earnings per share for the current year.

Meta Platforms Company 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.