M1 Capital Management LLC Buys New Position in Meta Platforms, Inc. (NASDAQ:META)

M1 Capital Management LLC bought a new stake in 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 & Exchange Commission. The fund bought 7,423 shares of the social networking company's stock, valued at approximately $4,346,000. Meta Platforms accounts for approximately 2.3% of M1 Capital Management LLC's investment portfolio, making the stock its 13th biggest holding.

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

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares in the company, valued at approximately $10,855,043.68. The trade was a 23.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher K. Cox sold 20,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the completion of the transaction, the insider now owns 308,686 shares in the company, 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 sold a total of 75,628 shares of company stock worth $48,380,586 over the last quarter. 13.61% of the stock is currently owned by insiders.

Meta Platforms Price Performance

NASDAQ META traded up $1.26 during trading hours on Wednesday, reaching $643.58. 8,878,338 shares of the company's stock were exchanged, compared to its average volume of 14,470,527. The firm has a fifty day moving average of $577.74 and a 200-day moving average of $610.01. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The stock has a market cap of $1.62 trillion, a PE ratio of 26.91, 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the prior year, the business earned $4.71 EPS. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent analyst reports. Benchmark decreased their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Mizuho boosted their target price on Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Bank of America increased their price target on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Truist Financial boosted their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

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.