Cigna Investments Inc. New Has $12.69 Million Stock Position in Meta Platforms, Inc. $META

Key Points

• Cigna Investments Inc. New reduced its stake in Meta Platforms by 2.1%, holding 22,019 shares valued at approximately $12.69 million, making it the 6th largest position in their portfolio.
• Several analysts have raised their price targets for Meta Platforms, with Piper Sandler setting a new target of $880 and KeyCorp aiming for $905, reflecting strong buy ratings across the board.
• Meta reported strong earnings with EPS of $7.14 for the recent quarter, significantly surpassing estimates and indicating a year-over-year revenue growth of 21.6%.

Cigna Investments Inc. New reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 22,019 shares of the social networking company's stock after selling 464 shares during the period. Meta Platforms makes up 2.4% of Cigna Investments Inc. New's investment portfolio, making the stock its 6th biggest position. Cigna Investments Inc. New's holdings in Meta Platforms were worth $12,691,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new stake in Meta Platforms in the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Meta Platforms in the 1st quarter worth approximately $33,000. JCIC Asset Management Inc. lifted its holdings in shares of Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after acquiring an additional 40 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $47,000. Institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on META shares. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Hsbc Global Res raised Meta Platforms from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 31st. Monness Crespi & Hardt boosted their target price on Meta Platforms from $780.00 to $860.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Guggenheim reiterated a "buy" rating and issued a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research report on Monday, July 28th. Finally, Wedbush boosted their price objective on Meta Platforms from $750.00 to $920.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $822.41.

Meta Platforms Stock Down 0.5%

Shares of NASDAQ:META traded down $3.59 during trading on Tuesday, hitting $735.11. The stock had a trading volume of 9,294,340 shares, compared to its average volume of 9,485,708. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The company has a market capitalization of $1.85 trillion, a PE ratio of 26.62, a PEG ratio of 1.53 and a beta of 1.24. The firm's fifty day moving average is $737.00 and its 200 day moving average is $658.50. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The firm had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. During the same quarter in the prior year, the company earned $5.16 EPS. The business's revenue was up 21.6% compared to the same quarter last year. Meta Platforms has set its Q3 2025 guidance at EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $753.43, for a total transaction of $11,939,605.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 18,332 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $764.71, for a total value of $14,018,663.72. Following the transaction, the chief financial officer directly owned 84,141 shares of the company's stock, valued at approximately $64,343,464.11. This trade represents a 17.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,767 shares of company stock worth $234,716,347 in the last three months. 13.61% of the stock is owned by corporate insiders.

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.