Victrix Investment Advisors bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,640 shares of the social networking company's stock, valued at approximately $2,717,000. Meta Platforms makes up approximately 2.0% of Victrix Investment Advisors' holdings, making the stock its 19th largest holding.
Several other institutional investors also recently bought and sold shares of META. Ballentine Partners LLC raised its position in shares of Meta Platforms by 1.4% in 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 during the period. UMB Bank n.a. grew its stake in Meta Platforms by 0.6% in 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 buying an additional 897 shares during the last quarter. Suvretta Capital Management LLC raised its holdings in Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after acquiring an additional 1,850 shares during the period. Skye Global Management LP lifted its position in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after acquiring an additional 43,200 shares during the last quarter. Finally, Brueske Advisory Services LLC bought a new stake in Meta Platforms during the fourth quarter valued at about $459,000. 79.91% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $703.21, for a total value of $13,830,734.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total value of $677,920.47. Following the sale, the insider now directly owns 35,787 shares in the company, valued at approximately $26,341,737.09. This represents a 2.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,852 shares of company stock valued at $41,665,958. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Trading Down 0.5%
Shares of NASDAQ META opened at $640.34 on Monday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The firm has a market capitalization of $1.61 trillion, a P/E ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. 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 company's 50 day simple moving average is $571.37 and its 200 day simple moving average is $607.10.
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 for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the business posted $4.71 EPS. The firm's quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Analyst Upgrades and Downgrades
META has been the subject of several research analyst reports. DA Davidson cut their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. upped their price target on Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Royal Bank of Canada reissued an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Susquehanna dropped their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, Loop Capital upped their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.
Check Out Our Latest Analysis on Meta Platforms
Meta Platforms Profile
(
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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