Armis Advisers LLC Invests $912,000 in Meta Platforms, Inc. (NASDAQ:META)

Armis Advisers LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,557 shares of the social networking company's stock, valued at approximately $912,000.

Other hedge funds also recently made changes to their positions in the company. Valley Financial Group Inc. grew its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after buying an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC grew its position in shares of Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after buying an additional 14 shares during the last quarter. Seelaus Asset Management LLC grew its position in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning grew its position in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after buying an additional 15 shares during the last quarter. Finally, Maiden Cove Capital LLC grew its position in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on META shares. Morgan Stanley upped their target price on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Bank of America upped their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Oppenheimer upped their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Evercore ISI upped their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, JMP Securities restated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $701.05.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 308,686 shares of the company's stock, valued at $209,199,589.06. The trade was a 6.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,628 shares of company stock valued at $48,380,586 in the last ninety days. Company insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

Meta Platforms stock traded up $1.26 during mid-day trading on Wednesday, reaching $643.58. The company had a trading volume of 8,867,678 shares, compared to its average volume of 14,452,485. 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, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a 50 day moving average of $576.79 and a 200-day moving average of $609.77. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the firm earned $4.71 EPS. The business's revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

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.