Point72 Italy S.r.l. Sells 7,741 Shares of Meta Platforms, Inc. (NASDAQ:META)

Point72 Italy S.r.l. lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 49.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,800 shares of the social networking company’s stock after selling 7,741 shares during the period. Meta Platforms comprises about 2.5% of Point72 Italy S.r.l.’s portfolio, making the stock its 14th largest holding. Point72 Italy S.r.l.’s holdings in Meta Platforms were worth $4,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at $45,000. Cordant Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at about $59,000. Finally, Conquis Financial LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $59,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

META stock opened at $659.36 on Thursday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.67 trillion, a PE ratio of 27.57, a P/E/G ratio of 1.42 and a beta of 1.24. The business has a 50 day moving average of $569.76 and a 200-day moving average of $605.94. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 EPS. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the sale, the insider now directly owns 308,686 shares in the company, valued at approximately $209,199,589.06. The trade was a 6.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 19,668 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $734.49, for a total transaction of $14,445,949.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,932 shares of company stock valued at $69,021,252. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

META has been the topic of several research analyst reports. Argus set a $775.00 price target on shares of Meta Platforms in a report on Tuesday, February 4th. Raymond James dropped their price target on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a report on Thursday, May 1st. Evercore ISI upped their price objective on Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Citigroup increased their price objective on Meta Platforms from $655.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Arete Research upgraded shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $696.45.

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.