Sone Capital Management LLC Purchases Shares of 5,580 Meta Platforms, Inc. (NASDAQ:META)

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

Several other hedge funds also recently modified their holdings of META. Millstone Evans Group LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms in the 4th quarter worth $47,000. Finally, Conquis Financial LLC bought a new position in shares of Meta Platforms in the 4th quarter worth $59,000. Institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the subject of several recent research reports. Oppenheimer boosted their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Bank of America upped their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup increased their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Rosenblatt Securities boosted their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One investment 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Stock Performance

Meta Platforms stock traded down $4.77 during mid-day trading on Friday, reaching $631.80. The company's stock had a trading volume of 5,067,673 shares, compared to its average volume of 14,461,098. The firm's fifty day moving average price is $573.91 and its two-hundred day moving average price is $608.53. 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, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a market capitalization of $1.59 trillion, a P/E ratio of 26.41, a PEG 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 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during 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%. The business's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the company earned $4.71 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,057 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the transaction, the chief technology officer now owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction 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 directly owns 70,040 shares of the company's stock, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,157 shares of company stock valued at $49,411,000. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Company 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.