Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Tang Capital Management LLC

Tang Capital Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,600 shares of the social networking company’s stock after buying an additional 745 shares during the quarter. Meta Platforms accounts for 1.0% of Tang Capital Management LLC’s holdings, making the stock its 27th largest holding. Tang Capital Management LLC’s holdings in Meta Platforms were worth $15,574,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new position in Meta Platforms during the 4th quarter worth $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the 4th quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the 4th quarter worth $45,000. Cordant Inc. acquired a new position in Meta Platforms during the 4th quarter worth $59,000. Finally, Conquis Financial LLC acquired a new position in Meta Platforms during the 4th quarter worth $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 907 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $645.77, for a total value of $585,713.39. Following the completion of the sale, the insider now owns 24,749 shares of the company’s stock, valued at approximately $15,982,161.73. This represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,852 shares of company stock valued at $41,665,958. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on META. Rosenblatt Securities boosted their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Oppenheimer lifted their price target on Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. DA Davidson decreased their price target on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a report on Monday, April 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Finally, Evercore ISI lifted their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $701.05.

Meta Platforms Trading Down 0.5%

Shares of META opened at $640.34 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.61 trillion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock’s fifty day simple moving average is $571.37 and its 200 day simple moving average is $606.82. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $4.71 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

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.