59,460 Shares in Meta Platforms, Inc. $META Purchased by Everstar Asset Management LLC

Key Points

• Everstar Asset Management LLC made a new investment of $34.27 million in Meta Platforms, acquiring 59,460 shares, which now constitutes approximately 6.4% of its investment portfolio.
• Multiple hedge funds have recently increased their stakes in Meta, with institutional investors now owning 79.91% of the company's stock.
• Wall Street analysts show strong confidence in Meta, with price targets raised by firms like Benchmark and DA Davidson, indicating a growing positive outlook for the company.

Everstar Asset Management LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 59,460 shares of the social networking company's stock, valued at approximately $34,270,000. Meta Platforms comprises 6.4% of Everstar Asset Management LLC's investment portfolio, making the stock its 4th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new stake in Meta Platforms during the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms in the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms in the 1st quarter valued at about $33,000. JCIC Asset Management Inc. lifted its holdings in shares of Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $726.25, for a total transaction of $376,923.75. Following the sale, the insider owned 31,908 shares in the company, valued at approximately $23,173,185. This represents a 1.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 517 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $726.25, for a total value of $375,471.25. Following the sale, the chief operating officer owned 12,094 shares in the company, valued at approximately $8,783,267.50. This trade represents a 4.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 282,244 shares of company stock worth $213,336,095 over the last ninety days. 13.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. Sanford C. Bernstein boosted their target price on Meta Platforms from $775.00 to $900.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Piper Sandler raised their price objective on shares of Meta Platforms from $808.00 to $880.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $783.00 to $811.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Oppenheimer raised their price objective on shares of Meta Platforms from $775.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Roth Capital raised their price objective on shares of Meta Platforms from $620.00 to $740.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $822.41.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $13.72 during trading hours on Wednesday, hitting $751.98. 11,675,870 shares of the company were exchanged, compared to its average volume of 14,808,190. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $739.60 and a 200-day moving average of $660.03. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.55 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The company's revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 EPS. Meta Platforms has set its Q3 2025 guidance at EPS. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal 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.