GTS Securities LLC Has $11.03 Million Position in Meta Platforms, Inc. (NASDAQ:META)

GTS Securities LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 86.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,845 shares of the social networking company's stock after selling 116,881 shares during the quarter. Meta Platforms accounts for approximately 0.5% of GTS Securities LLC's investment portfolio, making the stock its 20th largest holding. GTS Securities LLC's holdings in Meta Platforms were worth $11,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in META. Ballentine Partners LLC increased its position in shares of Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after purchasing an additional 808 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Meta Platforms by 0.6% during the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock valued at $82,314,000 after acquiring an additional 897 shares in the last quarter. Suvretta Capital Management LLC increased its holdings in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP increased its holdings in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Finally, Brueske Advisory Services LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $459,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Up 1.9%

Shares of NASDAQ META traded up $11.70 during midday trading on Tuesday, reaching $638.76. 4,121,899 shares of the stock were exchanged, compared to its average volume of 14,454,423. The company has a market capitalization of $1.61 trillion, a P/E ratio of 26.72, a P/E/G 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, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The stock has a 50 day moving average price of $575.66 and a 200-day moving average price of $609.55.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) 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 firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm earned $4.71 earnings per share. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 406 shares of the business's stock in a transaction dated 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 approximately $2,265,707.52. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the completion of the sale, the insider now owns 308,686 shares in the company, valued at approximately $209,199,589.06. This trade represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,628 shares of company stock valued at $48,380,586 over the last quarter. Company insiders own 13.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on META shares. Raymond James cut their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Argus set a $775.00 price target on shares of Meta Platforms in a research note on Tuesday, February 4th. Scotiabank cut their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. BMO Capital Markets upped their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Finally, KeyCorp lifted their price objective on Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus 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.