Prostatis Group LLC Purchases 439 Shares of Meta Platforms, Inc. (NASDAQ:META)

Prostatis Group LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,446 shares of the social networking company's stock after purchasing an additional 439 shares during the period. Prostatis Group LLC's holdings in Meta Platforms were worth $1,432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. Fjell Capital LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $1,836,000. Opulen Financial Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $334,000. Appleton Partners Inc. MA boosted its position in shares of Meta Platforms by 3.7% in the 4th quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock worth $15,406,000 after purchasing an additional 951 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares during the period. Institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. Benchmark lowered their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, TD Securities reduced their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Price Performance

META stock traded up $1.26 during midday trading on Wednesday, reaching $643.58. The company had a trading volume of 8,878,338 shares, compared to its average volume of 14,470,527. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The stock has a 50 day moving average price of $577.74 and a 200-day moving average price of $610.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $1.62 trillion, a price-to-earnings 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 released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the firm earned $4.71 EPS. The business's quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total transaction of $329,824.50. Following the completion of the transaction, the insider now owns 30,740 shares of the company's stock, valued at approximately $19,535,270. The trade was a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, the chief financial officer now owns 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% 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 valued at $48,380,586 over the last three months. 13.61% of the stock is owned by 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.