Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Trimmed by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,134 shares of the social networking company's stock after selling 5,017 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Meta Platforms were worth $108,398,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in META. Suvretta Capital Management LLC boosted its holdings in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after buying an additional 1,850 shares during the last quarter. Skye Global Management LP increased its position in Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after buying an additional 43,200 shares during the last quarter. Brueske Advisory Services LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at $459,000. Apollon Financial LLC grew its stake in shares of Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock worth $866,000 after acquiring an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its stake in shares of Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now owns 5,622 shares of the company's stock, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the sale, the insider now directly owns 308,686 shares of the company's stock, valued at approximately $209,199,589.06. This trade represents a 6.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,628 shares of company stock worth $48,380,586 over the last three months. Insiders own 13.61% of the company's stock.

Meta Platforms Trading Up 0.7%

NASDAQ META traded up $4.54 during trading hours on Wednesday, reaching $646.86. The company had a trading volume of 4,155,727 shares, compared to its average volume of 14,434,748. The stock has a 50-day moving average of $576.79 and a 200 day moving average of $609.77. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. 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 market capitalization of $1.63 trillion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.71 earnings per share. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

META has been the topic of a number of analyst reports. Rosenblatt Securities lifted their target price 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. JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Loop Capital lifted their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Barclays decreased their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Guggenheim boosted their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Company 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.