California State Teachers Retirement System Has $2.01 Billion Stock Position in Meta Platforms, Inc. (NASDAQ:META)

California State Teachers Retirement System decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,426,644 shares of the social networking company's stock after selling 112,536 shares during the period. Meta Platforms accounts for approximately 2.3% of California State Teachers Retirement System's holdings, making the stock its 5th biggest holding. California State Teachers Retirement System owned 0.14% of Meta Platforms worth $2,006,334,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in META. Norges Bank acquired a new stake in shares of Meta Platforms in the 4th quarter worth $19,949,512,000. Proficio Capital Partners LLC raised its stake in shares of Meta Platforms by 78,471.1% during the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after buying an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $2,243,603,000. Northern Trust Corp raised its stake in shares of Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Meta Platforms by 27.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock worth $5,211,967,000 after acquiring an additional 1,892,509 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now owns 5,622 shares of the company's stock, valued at $2,744,547.96. This trade represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.72, for a total transaction of $330,457.68. Following the sale, the insider now directly owns 31,259 shares in the company, valued at $19,903,230.48. This trade represents a 1.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,837 shares of company stock worth $64,758,661. Company insiders own 13.71% of the company's stock.

Meta Platforms Trading Down 0.5%

Shares of META traded down $3.33 during mid-day trading on Tuesday, reaching $637.10. The company had a trading volume of 6,716,460 shares, compared to its average volume of 14,506,516. The stock has a market cap of $1.60 trillion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The firm has a fifty day simple moving average of $571.79 and a 200-day simple moving average of $607.61. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last announced 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 company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the business earned $4.71 EPS. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on META. Wedbush boosted their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Susquehanna decreased their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Citigroup lifted their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. TD Securities cut their price objective 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. Finally, Evercore ISI lifted their price objective 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.