Financial Insights Inc. Sells 656 Shares of Meta Platforms, Inc. (NASDAQ:META)

Financial Insights Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 49.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 668 shares of the social networking company's stock after selling 656 shares during the quarter. Financial Insights Inc.'s holdings in Meta Platforms were worth $391,000 at the end of the most recent quarter.

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

Insider Activity

In other news, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the transaction, the insider now owns 308,686 shares in the company, valued at $209,199,589.06. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 406 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at $2,265,707.52. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,628 shares of company stock worth $48,380,586 over the last three months. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 0.2%

META traded up $1.26 during midday trading on Wednesday, reaching $643.58. The company's stock had a trading volume of 8,878,338 shares, compared to its average volume of 14,470,527. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock's 50-day moving average is $576.79 and its 200-day moving average is $609.77. The firm has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.42 and a beta of 1.24. 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 issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the previous year, the firm posted $4.71 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Analysts Set New Price Targets

META has been the subject of several research reports. Susquehanna cut their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. BMO Capital Markets lifted their price target on Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. Truist Financial increased their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Stifel Nicolaus boosted their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, DA Davidson reduced their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Company 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.