Good Life Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,072 shares of the social networking company’s stock after purchasing an additional 453 shares during the quarter. Good Life Advisors LLC’s holdings in Meta Platforms were worth $2,890,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Ruedi Wealth Management Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $25,000. Worth Asset Management LLC grew its stake in shares of Meta Platforms by 248.6% in the first quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock valued at $26,000 after buying an additional 87 shares in the last quarter. Sageworth Trust Co acquired a new position in Meta Platforms during the first quarter worth $26,000. MBM Wealth Consultants LLC bought a new stake in Meta Platforms during the fourth quarter worth $26,000. Finally, Chelsea Counsel Co. acquired a new stake in Meta Platforms in the fourth quarter valued at $27,000. Institutional investors own 62.87% of the company’s stock.
Analyst Upgrades and Downgrades
META has been the topic of a number of research analyst reports. Rosenblatt Securities upped their target price on shares of Meta Platforms from $333.00 to $372.00 in a report on Thursday, July 27th. JPMorgan Chase & Co. increased their price target on Meta Platforms from $305.00 to $425.00 in a research note on Thursday, July 27th. Credit Suisse Group increased their price target on shares of Meta Platforms from $361.00 to $407.00 in a report on Thursday, July 27th. JMP Securities boosted their price objective on Meta Platforms from $350.00 to $380.00 and gave the stock a “market outperform” rating in a report on Thursday, July 27th. Finally, Stifel Nicolaus increased their target price on Meta Platforms from $280.00 to $336.00 in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $319.79.
Insider Buying and Selling at Meta Platforms
In other news, insider Jennifer Newstead sold 722 shares of Meta Platforms stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $278.73, for a total transaction of $201,243.06. Following the transaction, the insider now owns 35,200 shares in the company, valued at $9,811,296. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jennifer Newstead sold 722 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $278.73, for a total transaction of $201,243.06. Following the completion of the transaction, the insider now directly owns 35,200 shares of the company’s stock, valued at approximately $9,811,296. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 8,032 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $2,459,318.08. Following the completion of the sale, the chief technology officer now owns 11,588 shares in the company, valued at approximately $3,548,129.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,179 shares of company stock worth $12,474,820. 13.75% of the stock is currently owned by company insiders.
Meta Platforms Price Performance
Shares of META opened at $300.31 on Monday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.14. The stock has a market cap of $772.75 billion, a PE ratio of 35.00, a PEG ratio of 1.00 and a beta of 1.23. Meta Platforms, Inc. has a 12-month low of $88.09 and a 12-month high of $326.20. The business has a 50-day simple moving average of $302.23 and a two-hundred day simple moving average of $259.90.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.36. The company had revenue of $32 billion during the quarter, compared to the consensus estimate of $30.91 billion. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. Analysts anticipate that Meta Platforms, Inc. will post 13.17 earnings per share for the current fiscal year.
Meta Platforms 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.
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