Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Vance Wealth LLC

Vance Wealth LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,220 shares of the social networking company’s stock after selling 194 shares during the quarter. Vance Wealth LLC’s holdings in Meta Platforms were worth $1,885,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Regent Peak Wealth Advisors LLC grew its stake in shares of Meta Platforms by 5.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock worth $2,939,000 after purchasing an additional 277 shares in the last quarter. Fjell Capital LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $334,000. Finally, Brooklyn Investment Group boosted its stake in Meta Platforms by 4.1% in the fourth quarter. Brooklyn Investment Group now owns 9,222 shares of the social networking company’s stock valued at $5,399,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.0%

Meta Platforms stock opened at $640.43 on Tuesday. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The firm’s fifty day simple moving average is $571.79 and its 200-day simple moving average is $607.61. 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 company has a market capitalization of $1.61 trillion, a P/E ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last announced its 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 firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $4.71 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on META shares. Evercore ISI upped their target price on Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Stifel Nicolaus increased their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Wedbush increased their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. TD Securities decreased their target price on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, DA Davidson decreased their price objective on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $701.05.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 19,668 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $703.21, for a total transaction of $13,830,734.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This 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 98,837 shares of company stock valued at $64,758,661 in the last three months. Company insiders own 13.71% of the company’s stock.

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.