Amiral Gestion Invests $21.61 Million in Meta Platforms, Inc. (NASDAQ:META)

Amiral Gestion purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 36,909 shares of the social networking company's stock, valued at approximately $21,610,000. Meta Platforms comprises approximately 13.6% of Amiral Gestion's holdings, making the stock its 2nd largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fjell Capital LLC acquired a new position in Meta Platforms during the fourth quarter worth about $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $325,000. Daner Wealth Management LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $334,000. Ballentine Partners LLC lifted its position in shares of Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock valued at $34,087,000 after acquiring an additional 808 shares during the last quarter. Finally, Rezny Wealth Management Inc. raised its position in shares of Meta Platforms by 1.0% during the fourth quarter. Rezny Wealth Management Inc. now owns 3,171 shares of the social networking company's stock worth $1,857,000 after purchasing an additional 31 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the firm's 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 transaction, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares in the company, valued at $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,628 shares of company stock worth $48,380,586. Corporate insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Oppenheimer upped their price objective on shares of Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Roth Capital boosted their price target on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wells Fargo & Company cut their price objective on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Truist Financial upped their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Stock Performance

Shares of META stock traded up $4.08 during mid-day trading on Wednesday, reaching $646.40. The stock had a trading volume of 4,669,339 shares, compared to its average volume of 14,436,310. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a market cap of $1.63 trillion, a PE ratio of 27.04, a P/E/G ratio of 1.42 and a beta of 1.24. The firm's 50 day simple moving average is $576.79 and its 200 day simple moving average is $609.77. 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 announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for 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%. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.71 EPS. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current 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.