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

Infinitum Asset Management LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 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 biggest position.

Other hedge funds also recently made changes to their positions in the company. Fjell Capital LLC acquired a new stake in Meta Platforms during the 4th quarter worth approximately $1,836,000. Opulen Financial Group LLC bought a new position in Meta Platforms during the fourth quarter worth $325,000. Daner Wealth Management LLC bought a new position in Meta Platforms during the fourth quarter worth $334,000. Appleton Partners Inc. MA boosted its position 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 purchasing an additional 951 shares during the period. Finally, Kelleher Financial Advisors lifted its holdings in shares of 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 buying an additional 109 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on META. Roth Capital boosted their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stifel Nicolaus boosted their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. Barclays lowered their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Jefferies Financial Group lowered their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. One 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 stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

Meta Platforms Stock Up 2.4%

Shares of META traded up $15.26 during trading hours on Tuesday, hitting $642.32. The company had a trading volume of 9,473,309 shares, compared to its average volume of 14,474,756. The firm has a fifty day moving average price of $575.66 and a 200-day moving average price of $609.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.71 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer now directly owns 1,183 shares of the company's stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now directly owns 5,622 shares of the company's stock, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,628 shares of company stock worth $48,380,586. 13.71% of the stock is owned by corporate 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.