Accuvest Global Advisors bought a new position in Meta Platforms, Inc. (NASDAQ:META – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,470 shares of the social networking company’s stock, valued at approximately $2,824,000. Meta Platforms accounts for approximately 0.9% of Accuvest Global Advisors’ holdings, making the stock its 27th biggest position.
Several other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Meta Platforms by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,830,209 shares of the social networking company’s stock worth $2,630,566,000 after buying an additional 128,126 shares during the period. DNB Asset Management AS purchased a new position in shares of Meta Platforms in the 4th quarter worth $401,963,000. Renaissance Technologies LLC raised its position in shares of Meta Platforms by 310.7% in the 1st quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the social networking company’s stock worth $667,302,000 after buying an additional 2,270,300 shares during the period. Ruane Cunniff & Goldfarb L.P. raised its position in shares of Meta Platforms by 7.2% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 2,834,735 shares of the social networking company’s stock worth $630,332,000 after buying an additional 189,688 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Meta Platforms by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock worth $499,020,000 after buying an additional 249,926 shares during the period. 60.92% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Meta Platforms
In other news, CAO Susan J.S. Taylor sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $172.96, for a total transaction of $242,144.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,949 shares in the company, valued at $510,059.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO Andrew Bosworth sold 10,888 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $179.48, for a total transaction of $1,954,178.24. Following the sale, the chief technology officer now owns 12,743 shares of the company’s stock, valued at $2,287,113.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Susan J.S. Taylor sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $172.96, for a total value of $242,144.00. Following the sale, the chief accounting officer now directly owns 2,949 shares in the company, valued at approximately $510,059.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,342 shares of company stock worth $12,285,012. Company insiders own 14.03% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. HSBC lowered Meta Platforms from a “hold” rating to a “reduce” rating and set a $110.00 price objective on the stock. in a research report on Friday, February 3rd. Rosenblatt Securities raised Meta Platforms from a “neutral” rating to a “buy” rating and raised their price objective for the company from $104.00 to $220.00 in a research report on Thursday, February 2nd. Wells Fargo & Company raised their price objective on Meta Platforms from $250.00 to $280.00 in a research report on Thursday. Oppenheimer raised their price objective on Meta Platforms from $235.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, March 15th. Finally, Morgan Stanley raised their price objective on Meta Platforms from $130.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, February 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.94.
Meta Platforms Stock Performance
Shares of NASDAQ META opened at $195.61 on Monday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $166.42 and a 200-day simple moving average of $140.06. The company has a market cap of $507.15 billion, a PE ratio of 22.80, a P/E/G ratio of 1.78 and a beta of 1.18. Meta Platforms, Inc. has a 12-month low of $88.09 and a 12-month high of $236.86.
Meta Platforms (NASDAQ:META – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The social networking company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.88. The business had revenue of $32.17 billion during the quarter, compared to the consensus estimate of $31.69 billion. Meta Platforms had a return on equity of 21.23% and a net margin of 19.90%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.67 earnings per share. On average, equities research analysts forecast that Meta Platforms, Inc. will post 10.38 EPS for the current year.
Meta Platforms Profile
Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.
Featured Stories
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Get Rating).
Receive News & Ratings for Meta Platforms Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Meta Platforms and related companies with MarketBeat.com’s FREE daily email newsletter.
ABMN Staff
Source link
