Meta Platforms, Inc. (NASDAQ:META) Position Boosted by Vise Technologies Inc.

Vise Technologies Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 46.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,538 shares of the social networking company’s stock after buying an additional 11,001 shares during the period. Meta Platforms makes up approximately 1.7% of Vise Technologies Inc.’s portfolio, making the stock its 6th biggest holding. Vise Technologies Inc.’s holdings in Meta Platforms were worth $20,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Valley Financial Group Inc. grew its position in Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after purchasing an additional 14 shares during the period. Lantern Wealth Advisors LLC grew its position in Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after purchasing an additional 14 shares during the period. Seelaus Asset Management LLC grew its position in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after purchasing an additional 15 shares during the period. Meredith Wealth Planning grew its position in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares during the period. Finally, Maiden Cove Capital LLC grew its position in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. The trade was a 23.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the sale, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,157 shares of company stock worth $49,411,000 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 0.2%

Shares of META stock opened at $636.57 on Friday. The stock has a market cap of $1.60 trillion, a P/E ratio of 26.61, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. 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 company’s fifty day simple moving average is $573.91 and its two-hundred day simple moving average is $608.53.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS 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 analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.71 EPS. Analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on META. Moffett Nathanson lifted their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Barclays cut their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Argus set a $775.00 price objective on shares of Meta Platforms in a research report on Tuesday, February 4th. Oppenheimer boosted their price objective on shares of Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Finally, Arete Research raised shares of Meta Platforms to a “hold” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $701.05.

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.