Newbrook Capital Advisors LP Makes New $37.14 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Newbrook Capital Advisors LP bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 63,436 shares of the social networking company's stock, valued at approximately $37,142,000. Meta Platforms makes up about 4.8% of Newbrook Capital Advisors LP's investment portfolio, making the stock its 5th largest position.

Several other large investors have also recently modified their holdings of the stock. Ballentine Partners LLC raised its stake in Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock valued at $34,087,000 after purchasing an additional 808 shares in the last quarter. UMB Bank n.a. increased its position in Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock valued at $82,314,000 after purchasing an additional 897 shares during the period. Brueske Advisory Services LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $459,000. Apollon Financial LLC raised its stake in Meta Platforms by 11.1% in the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock worth $866,000 after buying an additional 148 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Meta Platforms by 255.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $736.07, for a total transaction of $677,920.47. Following the transaction, the insider now directly owns 35,787 shares in the company, valued at $26,341,737.09. This represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the transaction, the insider now directly owns 308,686 shares in the company, valued at approximately $209,199,589.06. This represents a 6.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,852 shares of company stock worth $41,665,958 in the last quarter. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of META stock traded down $3.54 during midday trading on Friday, reaching $640.34. 18,351,566 shares of the company traded hands, compared to its average volume of 14,546,315. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market cap of $1.61 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The firm's 50 day simple moving average is $571.37 and its two-hundred day simple moving average is $606.82.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on META shares. Arete Research upgraded shares of Meta Platforms to a "hold" rating in a research note on Friday, January 24th. Piper Sandler upped their target price on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. KeyCorp raised their price target on Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.