iSAM Funds UK Ltd Buys Shares of 1,385 Meta Platforms, Inc. (NASDAQ:META)

iSAM Funds UK Ltd bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,385 shares of the social networking company's stock, valued at approximately $811,000.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $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. purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $47,000. Finally, Conquis Financial LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $640.43 on Tuesday. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. 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 business has a fifty day moving average of $571.79 and a two-hundred day moving average of $607.61. The company has a market cap of $1.61 trillion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $4.71 earnings per share. As a group, analysts predict 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, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now owns 16,463 shares in the company, valued at $10,855,043.68. The trade was a 23.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.72, for a total value of $330,457.68. Following the sale, the insider now owns 31,259 shares of the company's stock, valued at $19,903,230.48. The trade was a 1.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,837 shares of company stock valued at $64,758,661 in the last 90 days. 13.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. Mizuho lifted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. One equities 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 given a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price 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.

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