95,438 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 95,438 shares of the social networking company's stock, valued at approximately $55,880,000. Meta Platforms makes up 9.2% of Castlekeep Investment Advisors LLC's investment portfolio, making the stock its 2nd largest position.

A number of other institutional investors also recently bought and sold shares of the stock. Valley Financial Group Inc. increased its stake in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC boosted its holdings in Meta Platforms by 0.5% in 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 purchasing an additional 14 shares in the last quarter. Seelaus Asset Management LLC increased its position in 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 worth $960,000 after purchasing an additional 15 shares during the period. Meredith Wealth Planning boosted its stake in shares of Meta Platforms by 0.8% in the fourth 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 in the last quarter. Finally, Maiden Cove Capital LLC grew its stake 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 worth $282,000 after purchasing an additional 15 shares during the period. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Bank of America upped their price target on Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Evercore ISI lifted their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. UBS Group boosted their target price on Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus raised their price target on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the business's stock in a transaction 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 transaction, the chief operating officer now owns 5,622 shares in the company, valued at $2,744,547.96. The trade was a 9.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the company's 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 of the company's stock, valued at approximately $19,535,270. The trade was a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,628 shares of company stock valued at $48,380,586. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Trading Up 0.6%

Shares of META stock traded up $4.08 during mid-day trading on Wednesday, reaching $646.40. The company's stock had a trading volume of 4,669,339 shares, compared to its average volume of 14,436,213. The company's 50 day simple moving average is $576.79 and its 200-day simple moving average is $609.77. 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 12-month low of $442.65 and a 12-month high of $740.91. The firm has a market capitalization of $1.63 trillion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the company posted $4.71 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. On average, research analysts predict 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.