Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Jupiter Wealth Management LLC

Jupiter Wealth Management LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,251 shares of the social networking company's stock after buying an additional 525 shares during the period. Meta Platforms makes up approximately 2.1% of Jupiter Wealth Management LLC's investment portfolio, making the stock its 13th largest holding. Jupiter Wealth Management LLC's holdings in Meta Platforms were worth $4,246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of META. Ballentine Partners LLC lifted its holdings in shares of Meta Platforms by 1.4% in the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock valued at $34,087,000 after buying an additional 808 shares during the period. Suvretta Capital Management LLC grew its holdings in 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 grew its holdings in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after acquiring an additional 43,200 shares during the period. Brueske Advisory Services LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $459,000. Finally, Apollon Financial LLC raised its position in Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock valued at $866,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on META. DA Davidson lowered their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Cantor Fitzgerald boosted their target price on shares of Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Royal Bank of Canada reissued an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Arete Research upgraded shares of Meta Platforms to a "hold" rating in a research report on Friday, January 24th. Finally, Jefferies Financial Group decreased their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Insiders Place Their Bets

In other news, 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 $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $686.28, for a total transaction of $417,258.24. Following the sale, the chief operating officer now directly owns 9,270 shares in the company, valued at approximately $6,361,815.60. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,157 shares of company stock valued at $49,411,000 in the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Down 1.5%

Shares of NASDAQ META opened at $627.06 on Friday. The stock has a market cap of $1.58 trillion, a PE ratio of 26.21, a P/E/G ratio of 1.42 and a beta of 1.24. 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 12-month low of $442.65 and a 12-month high of $740.91. The company has a 50-day moving average of $574.80 and a 200 day moving average of $608.90.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Company Profile

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.

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