LifePro Asset Management Takes $446,000 Position in Meta Platforms, Inc. (NASDAQ:META)

LifePro Asset Management acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,552 shares of the social networking company’s stock, valued at approximately $446,000.

Several other hedge funds have also recently modified their holdings of the stock. Credit Suisse AG acquired a new position in Meta Platforms in the 4th quarter worth approximately $481,262,000. Catalyst Financial Partners LLC increased its holdings in Meta Platforms by 18.7% in the 1st quarter. Catalyst Financial Partners LLC now owns 4,287 shares of the social networking company’s stock worth $909,000 after buying an additional 675 shares during the period. Hall Capital Management Co. Inc. acquired a new position in Meta Platforms in the 1st quarter worth approximately $205,000. Aspire Private Capital LLC increased its holdings in Meta Platforms by 139.0% in the 1st quarter. Aspire Private Capital LLC now owns 1,293 shares of the social networking company’s stock worth $274,000 after buying an additional 752 shares during the period. Finally, Audent Global Asset Management LLC acquired a new position in Meta Platforms in the 4th quarter worth approximately $392,000. Institutional investors and hedge funds own 62.87% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $302.55 on Tuesday. The firm’s 50 day moving average price is $302.40 and its 200-day moving average price is $260.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.32 and a current ratio of 2.32. Meta Platforms, Inc. has a one year low of $88.09 and a one year high of $326.20. The firm has a market cap of $778.51 billion, a P/E ratio of 35.26, a P/E/G ratio of 0.99 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.87 by $0.36. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. The firm had revenue of $32 billion for the quarter, compared to analyst estimates of $30.91 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 13.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on META shares. Oppenheimer increased their price target on shares of Meta Platforms from $350.00 to $385.00 in a report on Thursday, July 27th. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $305.00 to $425.00 in a report on Thursday, July 27th. Truist Financial increased their price target on shares of Meta Platforms from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Robert W. Baird upped their price objective on Meta Platforms from $260.00 to $355.00 in a research report on Thursday, July 27th. Finally, Stifel Nicolaus upped their price objective on Meta Platforms from $280.00 to $336.00 in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $319.79.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 10,643 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $3,258,780.17. Following the sale, the chief financial officer now directly owns 91,617 shares in the company, valued at approximately $28,052,209.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Meta Platforms news, CFO Susan J. Li sold 10,643 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $3,258,780.17. Following the sale, the chief financial officer now directly owns 91,617 shares of the company’s stock, valued at approximately $28,052,209.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 722 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $282.00, for a total transaction of $203,604.00. Following the completion of the sale, the insider now directly owns 34,478 shares in the company, valued at $9,722,796. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,457 shares of company stock worth $12,273,577. 14.03% of the stock is currently owned by insiders.

About Meta Platforms

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.