Worldquant Millennium Advisors LLC Has $394.07 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Worldquant Millennium Advisors LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 88.7% 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 673,029 shares of the social networking company’s stock after acquiring an additional 316,392 shares during the quarter. Meta Platforms makes up approximately 2.6% of Worldquant Millennium Advisors LLC’s portfolio, making the stock its 5th largest position. Worldquant Millennium Advisors LLC’s holdings in Meta Platforms were worth $394,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms during the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms during the fourth quarter valued at approximately $47,000. Finally, Conquis Financial LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

NASDAQ META opened at $640.43 on Tuesday. The stock’s fifty day moving average is $571.79 and its two-hundred day moving average is $607.61. 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 company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 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 company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the business earned $4.71 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $703.21, for a total transaction of $13,830,734.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 2,615 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $1,724,226.40. Following the sale, the chief operating officer now owns 5,437 shares in the company, valued at approximately $3,584,940.32. This trade represents a 32.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,837 shares of company stock worth $64,758,661 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

META has been the subject of a number of research analyst reports. Arete Research raised Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Stifel Nicolaus raised their price target on Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Mizuho lifted their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald raised their target price on Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Finally, Susquehanna dropped their target price on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $701.05.

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.