Ameriflex Group Inc. Invests $1.50 Million in Meta Platforms, Inc. (NASDAQ:META)

Ameriflex Group Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,553 shares of the social networking company's stock, valued at approximately $1,495,000.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after purchasing an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC lifted its position in shares of Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after purchasing an additional 14 shares in the last quarter. Seelaus Asset Management LLC lifted its position in shares of Meta Platforms by 0.9% during the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after purchasing an additional 15 shares in the last quarter. Meredith Wealth Planning raised its stake in shares of Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares during the last quarter. Finally, Maiden Cove Capital LLC raised its stake in shares of Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on META. Scotiabank dropped their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company dropped their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Barclays dropped their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Mizuho boosted their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $15.26 during midday trading on Tuesday, reaching $642.32. 9,473,309 shares of the company were exchanged, compared to its average volume of 14,474,756. The stock's 50-day moving average price is $575.66 and its 200-day moving average price is $609.55. The stock has a market cap of $1.62 trillion, a P/E ratio of 26.85, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 earnings per share. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer now owns 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total transaction of $329,824.50. Following the transaction, the insider now owns 30,740 shares in the company, valued at approximately $19,535,270. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,628 shares of company stock valued at $48,380,586. 13.71% of the stock is currently owned by 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.