Infinitum Asset Management LLC Purchases Shares of 4,000 Meta Platforms, Inc. (NASDAQ:META)

Infinitum Asset Management LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,000 shares of the social networking company's stock, valued at approximately $2,342,000. Meta Platforms makes up approximately 1.2% of Infinitum Asset Management LLC's holdings, making the stock its 15th largest holding.

Other large investors have also added to or reduced their stakes in the company. Fjell Capital LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $1,836,000. Opulen Financial Group LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $325,000. Daner Wealth Management LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $334,000. Appleton Partners Inc. MA grew its holdings in Meta Platforms by 3.7% during the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock worth $15,406,000 after acquiring an additional 951 shares during the period. Finally, Kelleher Financial Advisors grew its holdings in Meta Platforms by 0.9% during the fourth quarter. Kelleher Financial Advisors now owns 12,415 shares of the social networking company's stock worth $7,269,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Up 0.3%

Shares of NASDAQ:META traded up $1.85 during trading on Thursday, reaching $645.43. The stock had a trading volume of 5,186,802 shares, compared to its average volume of 14,434,280. The business has a fifty day moving average price of $577.74 and a 200-day moving average price of $610.01. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.62 trillion, a P/E ratio of 26.99, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.71 earnings per share. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on META. Moffett Nathanson raised their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Monness Crespi & Hardt raised their target price on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Barclays decreased their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Morgan Stanley lifted their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,628 shares of company stock worth $34,826,386 over the last quarter. 13.61% of the stock is owned by company insiders.

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.