Ameriflex Group Inc. Acquires New Position in Meta Platforms, Inc. (NASDAQ:META)

Ameriflex Group Inc. acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,553 shares of the social networking company’s stock, valued at approximately $1,495,000.

Several other large investors also recently bought and sold shares of META. Fjell Capital LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $325,000. Daner Wealth Management LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $334,000. Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in Meta Platforms by 9.8% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 11,200 shares of the social networking company’s stock valued at $6,558,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Commons Capital LLC boosted its holdings in Meta Platforms by 2.1% in the 4th quarter. Commons Capital LLC now owns 5,251 shares of the social networking company’s stock valued at $3,075,000 after purchasing an additional 110 shares during the last quarter. 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 several recent analyst reports. Robert W. Baird boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Pivotal Research decreased their target price on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. UBS Group boosted their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Guggenheim boosted their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Scotiabank decreased their target price on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a report on Monday, April 21st. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $701.05.

Meta Platforms Price Performance

Shares of META opened at $627.06 on Friday. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm’s fifty day simple moving average is $574.80 and its 200-day simple moving average is $609.16. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

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

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the transaction, the chief technology officer now owns 16,463 shares in the company, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. 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 business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $665.75, for a total value of $613,155.75. Following the completion of the sale, the insider now owns 34,866 shares of the company’s stock, valued at approximately $23,212,039.50. This represents a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,157 shares of company stock valued at $49,411,000 over the last ninety days. Insiders own 13.71% of the company’s stock.

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.