Meitav Dash Investments Ltd. Acquires 55,055 Shares of Meta Platforms, Inc. (NASDAQ:META)

Meitav Dash Investments Ltd. boosted its holdings in Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 16.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 391,317 shares of the social networking company’s stock after acquiring an additional 55,055 shares during the quarter. Meta Platforms accounts for approximately 1.3% of Meitav Dash Investments Ltd.’s investment portfolio, making the stock its 17th biggest holding. Meitav Dash Investments Ltd.’s holdings in Meta Platforms were worth $86,818,000 as of its most recent SEC filing.

Other large investors 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 about $28,000. Disciplined Investments LLC lifted its position in Meta Platforms by 583.3% in the 1st quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Evolution Advisers Inc. bought a new position in Meta Platforms in the 4th quarter valued at about $48,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new position in Meta Platforms in the 4th quarter valued at about $31,000. Institutional investors own 65.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on META. Citigroup dropped their target price on shares of Meta Platforms from $270.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. JPMorgan Chase & Co. dropped their target price on shares of Meta Platforms from $275.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 29th. Wolfe Research dropped their target price on shares of Meta Platforms from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. DZ Bank cut shares of Meta Platforms from a “hold” rating to a “sell” rating and set a $140.00 target price on the stock. in a research report on Friday, July 29th. Finally, Raymond James dropped their target price on shares of Meta Platforms from $340.00 to $290.00 in a research report on Thursday, April 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $257.98.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 342 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $158.12, for a total value of $54,077.04. Following the transaction, the insider now owns 18,089 shares in the company, valued at $2,860,232.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Andrew Bosworth sold 11,718 shares of the stock in a transaction that occurred on Sunday, May 15th. The shares were sold at an average price of $198.62, for a total transaction of $2,327,429.16. Following the transaction, the chief technology officer now owns 11,913 shares in the company, valued at $2,366,160.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 342 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $158.12, for a total transaction of $54,077.04. Following the transaction, the insider now owns 18,089 shares in the company, valued at approximately $2,860,232.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,236 shares of company stock worth $8,958,728. Corporate insiders own 13.59% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $167.11 on Friday. The firm’s 50 day moving average price is $166.98 and its 200-day moving average price is $182.37. The company has a market cap of $449.12 billion, a PE ratio of 13.85, a P/E/G ratio of 2.26 and a beta of 1.32. Meta Platforms, Inc. has a 52-week low of $154.25 and a 52-week high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last issued its earnings results on Wednesday, July 27th. The social networking company reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.04). The firm had revenue of $28.82 billion during the quarter, compared to the consensus estimate of $28.95 billion. Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.61 EPS. On average, analysts forecast that Meta Platforms, Inc. will post 9.58 earnings per share for the current fiscal year.

About Meta Platforms

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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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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