Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 59.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,513 shares of the social networking company’s stock after acquiring an additional 1,685 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Meta Platforms were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fairfield Bush & CO. acquired a new position in Meta Platforms in the first quarter valued at about $66,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Meta Platforms by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock valued at $499,020,000 after buying an additional 249,926 shares during the last quarter. Ergoteles LLC lifted its position in shares of Meta Platforms by 284.0% during the first quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock worth $746,000 after purchasing an additional 2,482 shares in the last quarter. First Western Trust Bank acquired a new stake in shares of Meta Platforms during the first quarter worth about $813,000. Finally, Oxford Financial Group Ltd. lifted its position in shares of Meta Platforms by 26.9% during the first quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock worth $420,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 62.87% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $306.34, for a total value of $205,247.80. Following the completion of the sale, the insider now owns 37,680 shares of the company’s stock, valued at $11,542,891.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $306.34, for a total value of $205,247.80. Following the completion of the sale, the insider now owns 37,680 shares of the company’s stock, valued at $11,542,891.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 8,032 shares of the firm’s stock in a transaction on 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 transaction, the chief technology officer now owns 11,588 shares of the company’s stock, valued at approximately $3,548,129.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,179 shares of company stock valued at $12,474,820. 13.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

META has been the topic of several research reports. Susquehanna increased their price target on shares of Meta Platforms from $310.00 to $400.00 in a research report on Thursday, July 27th. New Street Research raised shares of Meta Platforms from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research report on Tuesday, July 25th. KeyCorp increased their price target on shares of Meta Platforms from $280.00 to $335.00 in a research report on Thursday, July 6th. Barclays increased their price target on shares of Meta Platforms from $320.00 to $410.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Finally, Mizuho increased their price target on shares of Meta Platforms from $280.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Two 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $319.79.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $300.31 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.32 and a quick ratio of 2.32. The stock has a fifty day moving average price of $302.23 and a 200 day moving average price of $259.90. Meta Platforms, Inc. has a 1-year low of $88.09 and a 1-year high of $326.20. The company has a market cap of $772.75 billion, a PE ratio of 35.00, a P/E/G ratio of 1.00 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.36. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. The company had revenue of $32 billion during the quarter, compared to the consensus estimate of $30.91 billion. Sell-side analysts forecast that Meta Platforms, Inc. will post 13.17 EPS for the current year.

Meta Platforms Company 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.