Helium Advisors LLC Invests $875,000 in Meta Platforms, Inc. (NASDAQ:META)

Helium Advisors LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,494 shares of the social networking company's stock, valued at approximately $875,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of META. Norges Bank acquired a new stake in Meta Platforms in the 4th quarter valued at about $19,949,512,000. Proficio Capital Partners LLC lifted its stake in Meta Platforms by 78,471.1% during the fourth 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Meta Platforms during the fourth quarter valued at about $2,243,603,000. Northern Trust Corp lifted its stake in Meta Platforms by 13.5% during the fourth 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Meta Platforms by 27.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock valued at $5,211,967,000 after buying an additional 1,892,509 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

META stock traded up $11.81 during midday trading on Tuesday, hitting $638.87. The stock had a trading volume of 4,121,899 shares, compared to its average volume of 14,454,423. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $575.66 and a 200 day simple moving average of $609.55. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The firm has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its 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 return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion during 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 quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Buying and Selling

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 308,686 shares in the company, valued at approximately $209,199,589.06. The trade was a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 406 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the sale, the chief operating officer now owns 4,608 shares in the company, valued at approximately $2,265,707.52. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,628 shares of company stock worth $48,380,586 over the last three months. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Monness Crespi & Hardt upped their target price on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Jefferies Financial Group dropped their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. UBS Group upped their target price on Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $701.05.

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.