Cache Advisors LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Cache Advisors LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,166 shares of the social networking company's stock, valued at approximately $17,662,000. Meta Platforms makes up 6.6% of Cache Advisors LLC's investment portfolio, making the stock its 5th largest holding.

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

Insider Buying and Selling at Meta Platforms

In related news, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were 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 in the company, valued at approximately $209,199,589.06. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on 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 sale, the chief technology officer now owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,628 shares of company stock worth $48,380,586. Insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. Pivotal Research dropped their price target on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. DA Davidson cut their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. One investment 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Stock Up 0.7%

Shares of META traded up $4.27 during midday trading on Wednesday, hitting $646.59. The stock had a trading volume of 4,479,525 shares, compared to its average volume of 16,935,809. The firm has a market cap of $1.63 trillion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a 50 day simple moving average of $576.79 and a two-hundred day simple moving average of $609.77. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

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, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business's quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the business earned $4.71 EPS. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

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.