Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 26,599 shares of the social networking company's stock, valued at approximately $15,574,000. Meta Platforms makes up approximately 3.2% of Arrowpoint Investment Partners Singapore Pte. Ltd.'s holdings, making the stock its 3rd largest position.
Several other hedge funds have also recently bought and sold shares of META. Regent Peak Wealth Advisors LLC lifted its position in shares of Meta Platforms by 5.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock worth $2,939,000 after buying an additional 277 shares during the last quarter. Fjell Capital LLC acquired a new position in Meta Platforms during the fourth quarter worth about $1,836,000. Opulen Financial Group LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $325,000. Daner Wealth Management LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $334,000. Finally, Sara Bay Financial boosted its stake in shares of Meta Platforms by 1.0% in the 4th quarter. Sara Bay Financial now owns 28,250 shares of the social networking company's stock valued at $16,703,000 after purchasing an additional 287 shares in the last quarter. 79.91% of the stock is owned by institutional investors.
Insider Buying and Selling at Meta Platforms
In related news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares of the company's stock, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 3,523 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $701.10, for a total transaction of $2,469,975.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,169 shares of company stock valued at $50,927,926. 13.71% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Guggenheim upped their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Oppenheimer upped their price target on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Monness Crespi & Hardt increased their price target on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Citigroup boosted their price objective on Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald increased their target price on Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.
View Our Latest Stock Analysis on Meta Platforms
Meta Platforms Trading Down 0.5%
Shares of META stock opened at $637.10 on Wednesday. The business has a 50-day moving average price of $572.72 and a two-hundred day moving average price of $607.81. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.60 trillion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $4.71 EPS. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Profile
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Free Report)
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.
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