Acumen Wealth Advisors LLC Sells 5,907 Shares of Meta Platforms, Inc. $META

Key Points

• Acumen Wealth Advisors reduced its Meta Platforms stake by 34.8%, selling 5,907 shares in the second quarter and retaining 11,069 shares valued at approximately $6.24 million.
• Institutional investors own roughly 79.91% of Meta’s shares, while insiders have sold 32,987 shares worth about $19.2 million over the past 90 days.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $785.22, despite Meta’s latest earnings missing estimates on EPS while revenue rose 28% year over year.

Acumen Wealth Advisors LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 34.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,069 shares of the social networking company's stock after selling 5,907 shares during the period. Meta Platforms makes up approximately 1.3% of Acumen Wealth Advisors LLC's holdings, making the stock its 20th largest position. Acumen Wealth Advisors LLC's holdings in Meta Platforms were worth $6,235,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in META. Vanguard Group Inc. raised its stake in Meta Platforms by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company's stock valued at $132,015,115,000 after buying an additional 7,269,279 shares during the last quarter. Auto Owners Insurance Co grew its stake in shares of Meta Platforms by 76,587.7% in the fourth quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company's stock worth $69,502,379,000 after acquiring an additional 105,154,977 shares during the last quarter. State Street Corp increased its holdings in shares of Meta Platforms by 5.1% during the fourth quarter. State Street Corp now owns 90,841,345 shares of the social networking company's stock valued at $59,963,463,000 after acquiring an additional 4,395,763 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Meta Platforms by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 52,806,712 shares of the social networking company's stock valued at $34,734,628,000 after acquiring an additional 878,396 shares in the last quarter. Finally, Capital World Investors raised its position in shares of Meta Platforms by 0.8% in the 4th quarter. Capital World Investors now owns 39,558,637 shares of the social networking company's stock worth $26,112,735,000 after purchasing an additional 310,947 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, Director Robert Kimmitt sold 500 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $561.56, for a total transaction of $280,780.00. Following the completion of the sale, the director directly owned 2,943 shares in the company, valued at approximately $1,652,671.08. The trade was a 14.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 1,258 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $600.00, for a total value of $754,800.00. Following the completion of the transaction, the chief operating officer owned 1,517 shares in the company, valued at approximately $910,200. This trade represents a 45.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,987 shares of company stock worth $19,202,995 in the last 90 days. Insiders own 13.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on META shares. Rothschild & Co Redburn upped their price target on shares of Meta Platforms from $900.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Phillip Securities raised shares of Meta Platforms to a "strong-buy" rating in a report on Monday, August 3rd. Mizuho set a $750.00 target price on shares of Meta Platforms in a research note on Thursday, July 30th. Cantor Fitzgerald cut their price target on shares of Meta Platforms from $770.00 to $680.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Finally, Wells Fargo & Company reduced their price target on shares of Meta Platforms from $835.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $785.22.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $610.68 on Friday. The firm's 50-day moving average price is $594.83 and its 200-day moving average price is $609.21. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $790.80. The company has a market cap of $1.56 trillion, a PE ratio of 23.00, a PEG ratio of 1.02 and a beta of 1.25. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $7.19 by ($1.01). The company had revenue of $60.80 billion for the quarter, compared to analysts' expectations of $60.22 billion. Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The firm's revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the previous year, the firm earned $7.14 earnings per share. As a group, analysts anticipate that Meta Platforms, Inc. will post 28.17 EPS for the current year.

Trending Headlines about Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta unveiled Muse Spark 1.3, an upgraded AI model that AI chief Alexandr Wang says delivers the company’s biggest performance improvement yet and is comparable with offerings from Anthropic and OpenAI. The announcement strengthened expectations that Meta can compete more effectively in generative AI and monetize its large user base. Meta Rises 4% as Muse Spark 1.3 Claims Parity With Anthropic and OpenAI
• Positive Sentiment: Analysts said Meta’s settlement of major social-media litigation could remove a legal overhang and accelerate the launch of new AI products. Some investors view the settlement as manageable relative to Meta’s scale and believe teen-usage restrictions may have limited revenue impact. Meta settlement could clear the way for new AI product launches, Morgan Stanley says
• Positive Sentiment: Investment commentary highlighted Meta as one of the leading “hyperscalers” supporting the AI ecosystem, with strong revenue growth, user engagement and long-term AI monetization potential. Hyperscalers are the backbone of AI
• Neutral Sentiment: Wedbush reaffirmed its Neutral rating, signaling that the AI opportunity is balanced by valuation, execution and spending concerns. Wedbush Reaffirms Neutral Rating for Meta Platforms
• Negative Sentiment: Meta reportedly agreed to pay as much as $17 billion over 10 years and make major changes to Instagram and Facebook for teen users. The settlement may reduce legal uncertainty, but its cost and potential limits on engagement create financial and operating risks. Meta Is Making These Major Changes for Teen Users After $17 Billion Settlement
• Negative Sentiment: Commentary warned that AI infrastructure spending could approach $145 billion, compressing free cash flow even as revenue grows. Investors also remain concerned about Meta’s dependence on successful AI execution to justify a recovery toward its prior high. Meta Stock Has a New AI Catalyst
• Negative Sentiment: Meta is paying users to share how they use its latest AI model, raising privacy and reputational concerns that could complicate adoption. Separately, the company disabled cameras on some AI glasses after detecting tampering with recording lights. Meta is paying to peek at how you use their latest AI model

About Meta Platforms

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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