Meta Platforms, Inc. (NASDAQ:META) Shares Sold by DCM Advisors LLC

DCM Advisors LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 20.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,447 shares of the social networking company’s stock after selling 5,859 shares during the quarter. Meta Platforms makes up 1.8% of DCM Advisors LLC’s holdings, making the stock its 6th biggest position. DCM Advisors LLC’s holdings in Meta Platforms were worth $4,991,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in META. Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter worth $9,595,113,000. Dodge & Cox grew its holdings in shares of Meta Platforms by 78.7% during the fourth quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company’s stock worth $2,238,518,000 after purchasing an additional 2,931,894 shares during the last quarter. Capital International Investors grew its holdings in shares of Meta Platforms by 5.9% during the fourth quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock worth $17,413,576,000 after purchasing an additional 2,888,336 shares during the last quarter. HS Management Partners LLC grew its holdings in shares of Meta Platforms by 463.7% during the fourth quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company’s stock worth $182,104,000 after purchasing an additional 2,325,382 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Meta Platforms by 65.9% during the first quarter. Assenagon Asset Management S.A. now owns 5,738,295 shares of the social networking company’s stock worth $1,275,967,000 after purchasing an additional 2,278,994 shares during the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 342 shares of the stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $180.53, for a total transaction of $61,741.26. Following the sale, the insider now owns 20,141 shares of the company’s stock, valued at approximately $3,636,054.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $180.53, for a total value of $61,741.26. Following the sale, the insider now owns 20,141 shares of the company’s stock, valued at approximately $3,636,054.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,420 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were 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 directly owns 1,605 shares in the company, valued at approximately $324,466.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,925 shares of company stock valued at $8,896,652. Corporate insiders own 13.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho cut their price objective on Meta Platforms from $325.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. Truist Financial cut their price objective on Meta Platforms from $320.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Ita├║ Unibanco assumed coverage on Meta Platforms in a research note on Tuesday, July 26th. They issued a “market perform” rating and a $188.00 price objective on the stock. Canaccord Genuity Group cut their price objective on Meta Platforms from $360.00 to $330.00 in a research note on Thursday, April 28th. Finally, Needham & Company LLC lowered Meta Platforms from a “hold” rating to an “underperform” rating in a research note on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $257.98.

Meta Platforms Stock Down 1.4 %

META traded down $2.35 during trading on Tuesday, reaching $167.90. 241,180 shares of the company were exchanged, compared to its average volume of 30,475,034. The company’s 50-day moving average is $167.18 and its two-hundred day moving average is $181.60. The company has a market cap of $451.24 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 2.21 and a beta of 1.33. Meta Platforms, Inc. has a 12-month low of $154.25 and a 12-month high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last issued 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). The company had revenue of $28.82 billion for the quarter, compared to analysts’ expectations of $28.95 billion. Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the company posted $3.61 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 9.58 earnings per share for the current year.

Meta Platforms 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.

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

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