Infinitum Asset Management LLC Makes New $2.34 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Infinitum Asset Management LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,000 shares of the social networking company's stock, valued at approximately $2,342,000. Meta Platforms accounts for 1.2% of Infinitum Asset Management LLC's investment portfolio, making the stock its 15th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Millstone Evans Group LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Conquis Financial LLC purchased a new stake in Meta Platforms during the fourth quarter valued at approximately $59,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Up 0.2%

Shares of NASDAQ META traded up $1.26 during trading on Wednesday, hitting $643.58. 8,849,598 shares of the company were exchanged, compared to its average volume of 14,452,422. The company has a fifty day moving average price of $576.79 and a 200-day moving average price of $609.77. 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 firm has a market capitalization of $1.62 trillion, a PE ratio of 26.91, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on META shares. Loop Capital boosted their target price on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Stifel Nicolaus upped their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Moffett Nathanson raised their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank of Canada reissued an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Scotiabank reduced their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. One equities research 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 given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Insider Buying and Selling

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $673.96, for a total transaction of $409,767.68. Following the completion of the transaction, the chief operating officer now owns 8,662 shares of the company's stock, valued at approximately $5,837,841.52. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares in the company, 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. Over the last three months, insiders sold 75,628 shares of company stock worth $48,380,586. Company insiders own 13.61% of the company's stock.

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.