1,573 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by LifeWealth Investments LLC

LifeWealth Investments LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,573 shares of the social networking company's stock, valued at approximately $921,000.

Several other institutional investors have also recently made changes to their positions in the stock. Millstone Evans Group LLC bought a new position in Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms during the 4th quarter valued at about $47,000. Finally, Conquis Financial LLC acquired a new position in Meta Platforms during the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

META traded up $1.26 on Wednesday, hitting $643.58. The company's stock had a trading volume of 8,858,592 shares, compared to its average volume of 16,983,383. The company's 50 day simple moving average is $576.79 and its 200-day simple moving average is $609.77. The firm has a market cap of $1.62 trillion, a P/E ratio of 26.91, a price-to-earnings-growth 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. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate 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 net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $4.71 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total value of $329,824.50. Following the sale, the insider now directly owns 30,740 shares in the company, valued at $19,535,270. This represents a 1.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the completion of the sale, the insider now owns 308,686 shares in the company, valued at $209,199,589.06. This represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,628 shares of company stock worth $48,380,586 in the last three months. 13.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. Mizuho lifted their price target on Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Guggenheim lifted their price target on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Barclays cut their price target on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Susquehanna cut their price target on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. One 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.