BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $358.36 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 612,043 shares of the social networking company's stock after purchasing an additional 20,195 shares during the quarter. Meta Platforms makes up 2.1% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings, making the stock its 6th largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Meta Platforms were worth $358,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Focus Partners Advisor Solutions LLC increased its position in Meta Platforms by 71.9% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 27,677 shares of the social networking company's stock valued at $16,206,000 after buying an additional 11,578 shares in the last quarter. CSS LLC IL grew its stake in shares of Meta Platforms by 14.6% during the fourth quarter. CSS LLC IL now owns 2,035 shares of the social networking company's stock worth $1,192,000 after acquiring an additional 260 shares during the last quarter. First Heartland Consultants Inc. increased its holdings in shares of Meta Platforms by 7.7% during the fourth quarter. First Heartland Consultants Inc. now owns 3,920 shares of the social networking company's stock valued at $2,295,000 after acquiring an additional 279 shares in the last quarter. Kolinsky Wealth Management LLC raised its position in shares of Meta Platforms by 9.8% in the 4th quarter. Kolinsky Wealth Management LLC now owns 4,083 shares of the social networking company's stock valued at $2,390,000 after purchasing an additional 363 shares during the last quarter. Finally, Note Advisors LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $244,000. Institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on META shares. JMP Securities restated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. TD Securities cut their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Oppenheimer raised their target price on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Royal Bank of Canada reiterated an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. One 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Stock Down 0.5%

Shares of META opened at $637.10 on Wednesday. The stock has a 50 day moving average price of $572.72 and a 200 day moving average price of $607.81. Meta Platforms, Inc. has a one year low of $442.65 and a one year 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 $1.60 trillion, a price-to-earnings ratio of 26.63, a PEG 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. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 3,523 shares of Meta Platforms stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $701.10, for a total transaction of $2,469,975.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares of the company's stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,169 shares of company stock valued at $50,927,926. 13.71% of the stock is currently owned by insiders.

About Meta Platforms

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.

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