1,288 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by BIP Alliance LLC

BIP Alliance LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,288 shares of the social networking company's stock, valued at approximately $754,000. Meta Platforms makes up about 0.3% of BIP Alliance LLC's investment portfolio, making the stock its 25th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of META. Ballentine Partners LLC boosted its stake in 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 purchasing an additional 808 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock valued at $82,314,000 after acquiring an additional 897 shares during the last quarter. Suvretta Capital Management LLC lifted its position in shares of Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after acquiring an additional 1,850 shares during the last quarter. Skye Global Management LP lifted its position in shares of Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares during the last quarter. Finally, Brueske Advisory Services LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at $459,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value 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. This represents a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total transaction of $329,824.50. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 75,628 shares of company stock worth $48,380,586 in the last three months. Insiders own 13.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Rosenblatt Securities increased their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Citigroup increased their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. DA Davidson lowered their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. One research 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Stock Up 1.9%

NASDAQ META traded up $11.81 on Tuesday, reaching $638.87. The company had a trading volume of 4,121,899 shares, compared to its average volume of 14,454,423. The firm has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company's fifty day moving average is $575.66 and its 200-day moving average is $609.55.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS 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 company 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 business posted $4.71 EPS. The company's quarterly revenue was up 16.1% on a year-over-year basis. On average, research analysts forecast 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.