M1 Capital Management LLC Buys Shares of 7,423 Meta Platforms, Inc. (NASDAQ:META)

M1 Capital Management LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,423 shares of the social networking company’s stock, valued at approximately $4,346,000. Meta Platforms accounts for about 2.3% of M1 Capital Management LLC’s portfolio, making the stock its 13th largest holding.

Several other large investors also recently modified their holdings of the stock. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $47,000. Finally, Conquis Financial LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of analyst reports. DA Davidson lowered their target price on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Susquehanna reduced their price target on Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Cantor Fitzgerald increased their price objective on Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Evercore ISI raised their target price on Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Finally, KeyCorp lifted their target price on Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $701.05.

Meta Platforms Stock Up 2.4%

META stock opened at $642.32 on Wednesday. The business has a 50 day moving average of $576.79 and a 200 day moving average of $609.77. The firm has a market cap of $1.62 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month 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.

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

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 406 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the sale, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total transaction of $453,012.27. Following the sale, the insider now directly owns 27,498 shares of the company’s stock, valued at $13,525,441.26. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,628 shares of company stock valued at $48,380,586. 13.61% of the stock is owned by insiders.

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.