Tang Capital Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,600 shares of the social networking company's stock after buying an additional 745 shares during the period. Meta Platforms makes up 1.0% of Tang Capital Management LLC's holdings, making the stock its 27th largest position. Tang Capital Management LLC's holdings in Meta Platforms were worth $15,574,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of META. Regent Peak Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 5.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock valued at $2,939,000 after purchasing an additional 277 shares during the period. Fjell Capital LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $325,000. Brady Family Wealth LLC increased its holdings in shares of Meta Platforms by 14.1% in the fourth quarter. Brady Family Wealth LLC now owns 2,671 shares of the social networking company's stock valued at $1,564,000 after purchasing an additional 331 shares during the period. Finally, Mason & Associates Inc grew its holdings in Meta Platforms by 28.5% during the fourth quarter. Mason & Associates Inc now owns 1,372 shares of the social networking company's stock worth $803,000 after acquiring an additional 304 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Stock Performance
Shares of Meta Platforms stock opened at $640.34 on Friday. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a market cap of $1.61 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The business's 50 day moving average price is $571.37 and its 200 day moving average price is $606.82.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 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 firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the business posted $4.71 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Truist Financial raised their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Tigress Financial reaffirmed a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Guggenheim raised their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $701.05.
Check Out Our Latest Stock Report on Meta Platforms
Insiders Place Their Bets
In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total transaction of $447,530.56. Following the completion of the sale, the chief operating officer now owns 9,878 shares of the company's stock, valued at $7,270,899.46. This trade represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 907 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $645.77, for a total value of $585,713.39. Following the sale, the insider now directly owns 24,749 shares of the company's stock, valued at approximately $15,982,161.73. This trade represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,852 shares of company stock valued at $41,665,958 over the last quarter. 13.71% of the stock is owned by insiders.
Meta Platforms Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).
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