Meta Platforms, Inc. (NASDAQ:META) Position Reduced by Gunderson Capital Management Inc.

Gunderson Capital Management Inc. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,952 shares of the social networking company's stock after selling 3,994 shares during the period. Meta Platforms accounts for approximately 7.0% of Gunderson Capital Management Inc.'s holdings, making the stock its 6th biggest position. Gunderson Capital Management Inc.'s holdings in Meta Platforms were worth $10,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the 4th quarter worth about $45,000. Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms during the 4th quarter valued at about $47,000. Finally, Conquis Financial LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $59,000. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $595.00, for a total transaction of $547,995.00. Following the completion of the transaction, the insider now directly owns 33,024 shares of the company's stock, valued at approximately $19,649,280. This represents a 2.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,135 shares of company stock valued at $34,481,779 over the last quarter. Company insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

Meta Platforms stock traded down $4.05 during trading hours on Tuesday, reaching $666.85. 11,568,347 shares of the stock were exchanged, compared to its average volume of 14,475,836. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The stock has a market cap of $1.68 trillion, a P/E ratio of 27.88, a P/E/G 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 firm's 50 day moving average is $579.76 and its 200 day moving average is $612.10.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the prior year, the company posted $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Loop Capital lifted their target price on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Morgan Stanley increased their target price on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Jefferies Financial Group reduced their price target on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. UBS Group upped their price objective on Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Susquehanna cut their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

Meta Platforms 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.