2,553 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Ameriflex Group Inc.

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

Several other hedge funds and other institutional investors have also made changes to their positions in META. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth 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. acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the subject of several analyst reports. Argus set a $775.00 price objective on Meta Platforms in a research report on Tuesday, February 4th. Wells Fargo & Company cut their target price on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Moffett Nathanson upped their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. UBS Group upped their target price on Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Pivotal Research cut their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One equities 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. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total value of $329,824.50. Following the completion of the sale, the insider now directly owns 30,740 shares in the company, valued at approximately $19,535,270. This represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer now owns 1,183 shares of the company's stock, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,628 shares of company stock valued at $34,826,386. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Up 0.3%

Shares of NASDAQ META traded up $1.79 during mid-day trading on Thursday, reaching $645.37. The company had a trading volume of 5,262,093 shares, compared to its average volume of 16,867,680. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month 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. The stock has a market capitalization of $1.62 trillion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock's 50 day moving average is $577.74 and its 200-day moving average is $610.01.

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, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the business posted $4.71 earnings per share. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

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.