Waratah Capital Advisors Ltd. Makes New $6.57 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Waratah Capital Advisors Ltd. purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,527 shares of the social networking company’s stock, valued at approximately $6,566,000.

Several other large investors have also made changes to their positions in META. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Meta Platforms by 13.4% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 627,832 shares of the social networking company’s stock worth $211,181,000 after acquiring an additional 74,049 shares in the last quarter. TrueWealth Advisors LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth about $250,000. Helios Capital Management PTE. Ltd. bought a new stake in shares of Meta Platforms in the fourth quarter worth about $3,733,000. Intelligence Driven Advisers LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth about $276,000. Finally, Investment Management of Virginia LLC grew its holdings in shares of Meta Platforms by 27.7% during the fourth quarter. Investment Management of Virginia LLC now owns 921 shares of the social networking company’s stock worth $310,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 311 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total transaction of $62,075.60. Following the completion of the sale, the insider now directly owns 12,187 shares of the company’s stock, valued at approximately $2,432,525.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Andrew Bosworth sold 10,126 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $203.35, for a total value of $2,059,122.10. Following the transaction, the chief technology officer now owns 4,544 shares in the company, valued at $924,022.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 311 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total value of $62,075.60. Following the completion of the transaction, the insider now owns 12,187 shares in the company, valued at approximately $2,432,525.20. The disclosure for this sale can be found here. Insiders sold 45,236 shares of company stock valued at $8,958,728 in the last three months. Corporate insiders own 13.59% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $3.46 during midday trading on Friday, reaching $167.11. The company’s stock had a trading volume of 25,832,699 shares, compared to its average volume of 30,145,862. The firm has a market capitalization of $449.12 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.26 and a beta of 1.32. The firm has a 50 day moving average price of $166.98 and a two-hundred day moving average price of $182.37. Meta Platforms, Inc. has a fifty-two week low of $154.25 and a fifty-two week high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The business had revenue of $28.82 billion during the quarter, compared to analyst estimates of $28.95 billion. During the same period in the prior year, the firm earned $3.61 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 9.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on META. DZ Bank downgraded Meta Platforms from a “hold” rating to a “sell” rating and set a $140.00 price objective for the company. in a report on Friday, July 29th. Morgan Stanley cut their price objective on Meta Platforms from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. JPMorgan Chase & Co. cut their price objective on Meta Platforms from $275.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday, June 29th. Needham & Company LLC lowered Meta Platforms from a “hold” rating to an “underperform” rating in a research note on Monday, July 11th. Finally, UBS Group lowered their target price on Meta Platforms from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $257.98.

Meta Platforms Company Profile

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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.

See Also

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

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