Gleason Group Inc. Acquires 1,575 Shares of Meta Platforms, Inc. (NASDAQ:META)

Gleason Group Inc. boosted its holdings in Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 6,300.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,600 shares of the social networking company’s stock after acquiring an additional 1,575 shares during the quarter. Gleason Group Inc.’s holdings in Meta Platforms were worth $356,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Barnett & Company Inc. lifted its position in Meta Platforms by 105.0% in the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after acquiring an additional 42 shares in the last quarter. Rise Advisors LLC bought a new position in Meta Platforms in the 4th quarter valued at approximately $28,000. Disciplined Investments LLC lifted its holdings in shares of Meta Platforms by 583.3% during the 1st quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock valued at $27,000 after buying an additional 105 shares during the period. Evolution Advisers Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at $48,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at $31,000. 65.49% of the stock is currently owned by institutional investors and hedge funds.

In other Meta Platforms news, insider Jennifer Newstead sold 476 shares of the company’s stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $210.70, for a total value of $100,293.20. Following the completion of the sale, the insider now directly owns 13,450 shares in the company, valued at approximately $2,833,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Susan J.S. Taylor sold 1,420 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $202.16, for a total value of $287,067.20. Following the completion of the sale, the chief accounting officer now owns 1,605 shares of the company’s stock, valued at $324,466.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,430 shares of company stock valued at $9,076,960. 13.59% of the stock is owned by company insiders.

Several research firms have recently weighed in on META. StockNews.com began coverage on Meta Platforms in a report on Thursday, March 31st. They set a “hold” rating on the stock. Guggenheim reduced their price objective on Meta Platforms from $275.00 to $250.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Mizuho reduced their price objective on Meta Platforms from $425.00 to $325.00 and set a “buy” rating for the company in a research note on Monday, April 25th. Evercore ISI reduced their price objective on Meta Platforms from $350.00 to $325.00 in a research note on Thursday, April 28th. Finally, Barclays reduced their price objective on Meta Platforms from $370.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $300.00.

META opened at $160.03 on Tuesday. The business has a fifty day moving average of $184.74 and a 200 day moving average of $229.44. Meta Platforms, Inc. has a 52-week low of $154.25 and a 52-week high of $384.33. The stock has a market cap of $433.09 billion, a P/E ratio of 12.11, a PEG ratio of 1.27 and a beta of 1.40.

Meta Platforms (NASDAQ:META – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.18. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. The company had revenue of $27.91 billion during the quarter, compared to analysts’ expectations of $28.21 billion. During the same quarter in the previous year, the business earned $3.30 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 11.46 EPS for the current fiscal year.

Meta Platforms Profile (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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