1248 Management LLC Has $1.59 Million Position in Meta Platforms, Inc. $META

Key Points

• 1248 Management LLC reduced its holdings in Meta Platforms, Inc. by 26.8%, selling 1,013 shares, and now retains 2,763 shares valued at $1,592,000.
• Several institutional investors, including Inlight Wealth Management and Barnes Dennig Private Wealth Management, purchased new stakes in Meta Platforms during the first quarter, indicating growing interest in the company.
• Analysts have recently set new price targets for Meta Platforms, with HSBC Global Research upgrading the stock from "hold" to "strong-buy" and a projected average price target of $822.41.

1248 Management LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 26.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,763 shares of the social networking company's stock after selling 1,013 shares during the quarter. Meta Platforms comprises 0.9% of 1248 Management LLC's portfolio, making the stock its 18th biggest holding. 1248 Management LLC's holdings in Meta Platforms were worth $1,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of META. GAMMA Investing LLC grew its position in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the last quarter. Nuveen LLC acquired a new position in shares of Meta Platforms in the first quarter valued at approximately $2,990,544,000. Assenagon Asset Management S.A. grew its position in shares of Meta Platforms by 712.2% in the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after purchasing an additional 2,225,186 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Meta Platforms in the 4th quarter valued at $1,162,918,000. Finally, Goldman Sachs Group Inc. grew its holdings in Meta Platforms by 8.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company's stock valued at $8,977,361,000 after buying an additional 1,255,546 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the topic of several research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $920.00 price target on shares of Meta Platforms in a research note on Wednesday, August 13th. Canaccord Genuity Group increased their target price on shares of Meta Platforms from $825.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Citigroup restated an "outperform" rating on shares of Meta Platforms in a research report on Thursday, July 31st. DA Davidson increased their target price on shares of Meta Platforms from $650.00 to $825.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Citizens Jmp increased their price target on Meta Platforms from $750.00 to $900.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $822.41.

Meta Platforms Price Performance

Meta Platforms stock traded down $3.59 during mid-day trading on Tuesday, reaching $735.11. The company had a trading volume of 9,294,340 shares, compared to its average volume of 9,485,708. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a market cap of $1.85 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.53 and a beta of 1.24. The business has a fifty day simple moving average of $737.00 and a 200 day simple moving average of $658.50.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The company had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. During the same quarter last year, the business posted $5.16 EPS. Meta Platforms's revenue for the quarter was up 21.6% on a year-over-year basis. Meta Platforms has set its Q3 2025 guidance at EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Activity

In other news, CFO Susan J. Li sold 18,332 shares of Meta Platforms stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $764.71, for a total transaction of $14,018,663.72. Following the sale, the chief financial officer directly owned 84,141 shares of the company's stock, valued at approximately $64,343,464.11. This trade represents a 17.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $784.32, for a total transaction of $364,708.80. Following the sale, the director owned 8,877 shares in the company, valued at approximately $6,962,408.64. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 312,767 shares of company stock valued at $234,716,347. 13.61% of the stock is currently owned by company insiders.

Meta Platforms 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.