Perennial Advisors LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Perennial Advisors LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,918 shares of the social networking company's stock, valued at approximately $2,294,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Millstone Evans Group LLC bought a new stake in Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms in the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms in the 4th quarter valued at $47,000. Finally, Conquis Financial LLC bought a new stake in Meta Platforms in the 4th quarter valued at $59,000. Institutional investors own 79.91% of the company's stock.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 608 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $673.96, for a total value of $409,767.68. Following the completion of the transaction, the chief operating officer now directly owns 8,662 shares in the company, valued at approximately $5,837,841.52. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,628 shares of company stock valued at $34,826,386 over the last ninety days. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 0.3%

META stock traded up $1.98 during midday trading on Thursday, hitting $645.56. The stock had a trading volume of 5,186,802 shares, compared to its average volume of 14,434,216. 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 business has a 50-day moving average of $577.74 and a two-hundred day moving average of $610.01. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the company posted $4.71 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Loop Capital upped their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Citigroup upped their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Raymond James lowered their target price on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $701.05.

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.