Meta Platforms, Inc. $META Shares Sold by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management cut its Meta Platforms stake by 7.8% in the fourth quarter, selling 2,289 shares and ending with 27,224 shares worth about $17.97 million.
• Meta continues to attract major institutional interest, with institutions and hedge funds owning 79.91% of the company’s stock despite some recent selling by select investors.
• Recent developments were mixed: Meta is rolling out new privacy-focused WhatsApp and Instagram AI features, but it also faces legal pressure, including a lawsuit over scam ads and challenges tied to teen mental health and international publisher disputes.

Elite Wealth Management Inc. lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,224 shares of the social networking company's stock after selling 2,289 shares during the quarter. Meta Platforms accounts for about 4.9% of Elite Wealth Management Inc.'s investment portfolio, making the stock its 5th biggest holding. Elite Wealth Management Inc.'s holdings in Meta Platforms were worth $17,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of META. Brighton Jones LLC grew its holdings in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC grew its holdings in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after purchasing an additional 875 shares during the period. Headwater Capital Co Ltd grew its holdings in Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company's stock valued at $86,454,000 after purchasing an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in Meta Platforms during the second quarter valued at approximately $213,000. Finally, Capital & Planning LLC acquired a new position in Meta Platforms during the second quarter valued at approximately $322,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is expanding WhatsApp’s privacy tools with a new “incognito” mode for AI chats, which could help ease user concerns and support adoption of its AI features. Reuters article on WhatsApp incognito mode
• Positive Sentiment: The company also introduced more private messaging and sharing products, including an Instagram feature and additional AI privacy controls, which may help strengthen engagement and user trust over time. CNET article on Instagram Instants
• Neutral Sentiment: Meta is reportedly preparing to monetize WhatsApp more aggressively through a premium subscription model, which could eventually add high-margin recurring revenue, but the financial impact is still speculative. Seeking Alpha article on WhatsApp Plus
• Negative Sentiment: Santa Clara County filed a lawsuit accusing Meta of profiting from scam ads on Facebook and Instagram, adding to concerns that the company may face restitution, damages, and stricter oversight of its ad systems. Business Wire article on Santa Clara County complaint
• Negative Sentiment: Reuters reported that Meta is challenging New Mexico’s proposed $3.7 billion remedy in the teen mental health trial, underscoring the scale of potential liabilities from social media-related lawsuits. Reuters article on New Mexico trial
• Negative Sentiment: Separate reports said Meta lost a court fight in Italy over paying publishers for news snippets, reinforcing that international regulation could create additional costs and legal pressure. Reuters article on Italian publishers ruling

Meta Platforms Stock Up 2.3%

Meta Platforms stock opened at $616.63 on Thursday. The company has a 50 day moving average of $623.98 and a 200-day moving average of $641.75. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.56 trillion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping analysts' consensus estimates of $6.67 by $3.77. The business had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm's revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.43 earnings per share. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 29.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Scotiabank boosted their price objective on shares of Meta Platforms from $685.00 to $700.00 and gave the company a "sector perform" rating in a report on Thursday, January 29th. Bank of America reduced their price target on shares of Meta Platforms from $885.00 to $820.00 and set a "buy" rating for the company in a report on Monday, April 20th. Wall Street Zen upgraded shares of Meta Platforms from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $808.00 to $890.00 and gave the company a "buy" rating in a report on Thursday, January 29th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $1,015.00 price target on shares of Meta Platforms in a report on Thursday, April 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $840.31.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 926 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $604.57, for a total value of $559,831.82. Following the sale, the chief operating officer owned 6,853 shares of the company's stock, valued at $4,143,118.21. The trade was a 11.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 580 shares of the business's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $667.00, for a total transaction of $386,860.00. Following the completion of the sale, the director directly owned 3,847 shares in the company, valued at approximately $2,565,949. This represents a 13.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 169,231 shares of company stock worth $108,239,954. 13.61% of the stock is currently owned by insiders.

About Meta Platforms

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.