Sone Capital Management LLC Makes New $3.27 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Sone Capital Management LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,580 shares of the social networking company's stock, valued at approximately $3,267,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after buying an additional 1,502,553 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after buying an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after buying an additional 1,049,121 shares during the period. Capital World Investors lifted its holdings in shares of Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after buying an additional 1,141,355 shares during the period. Finally, Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $19,949,512,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Down 0.5%

Shares of META traded down $3.33 during trading hours on Tuesday, hitting $637.10. 6,716,460 shares of the company were exchanged, compared to its average volume of 14,506,492. The company has a market cap of $1.60 trillion, a PE ratio of 26.63, a PEG ratio of 1.42 and a beta of 1.24. The firm's 50 day moving average is $572.72 and its 200-day moving average is $607.81. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating 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 firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 19,668 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $703.21, for a total transaction of $13,830,734.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,837 shares of company stock worth $64,758,661 in the last 90 days. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. BMO Capital Markets boosted their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Susquehanna cut their target price on 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, Stifel Nicolaus boosted their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average 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.