Arcadia Wealth Management Inc. Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Arcadia Wealth Management Inc. bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,025 shares of the social networking company's stock, valued at approximately $600,000.

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

Meta Platforms Price Performance

Shares of META traded up $1.26 during trading hours on Wednesday, hitting $643.58. 8,878,338 shares of the stock were exchanged, compared to its average volume of 14,470,527. The stock's 50-day moving average price is $576.79 and its two-hundred day moving average price is $609.77. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-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 company has a market cap of $1.62 trillion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth 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 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 firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the business posted $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the completion of the transaction, the insider now directly owns 308,686 shares in the company, valued at approximately $209,199,589.06. This represents a 6.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $644.00, for a total transaction of $593,124.00. Following the completion of the transaction, the insider now directly owns 33,945 shares in the company, valued at $21,860,580. The trade was a 2.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,628 shares of company stock valued at $48,380,586. Insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Susquehanna cut their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Monness Crespi & Hardt raised their target price on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, UBS Group lifted their price target on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms 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.