Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Cut by Principal Street Partners LLC

Principal Street Partners LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 49.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,583 shares of the social networking company's stock after selling 16,306 shares during the quarter. Meta Platforms makes up approximately 1.9% of Principal Street Partners LLC's portfolio, making the stock its 8th largest position. Principal Street Partners LLC's holdings in Meta Platforms were worth $9,709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Conquis Financial LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.72, for a total transaction of $330,457.68. Following the sale, the insider now directly owns 31,259 shares in the company, valued at $19,903,230.48. The trade was a 1.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,837 shares of company stock valued at $64,758,661 over the last three months. Corporate insiders own 13.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup increased their price objective on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Jefferies Financial Group dropped their price target on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Oppenheimer increased their price target on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Susquehanna lowered their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Finally, Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Meta Platforms Price Performance

META opened at $640.43 on Tuesday. 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 stock has a market capitalization of $1.61 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock's 50 day moving average price is $571.79 and its 200-day moving average price is $607.61. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.71 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current 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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