Note Advisors LLC Buys New Position in Meta Platforms, Inc. (NASDAQ:META)

Note Advisors LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 416 shares of the social networking company's stock, valued at approximately $244,000.

Other large investors also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC increased its stake in Meta Platforms by 5.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock worth $2,939,000 after purchasing an additional 277 shares during the period. Fjell Capital LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $1,836,000. Opulen Financial Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $325,000. Daner Wealth Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $334,000. Finally, Sara Bay Financial increased its stake in shares of Meta Platforms by 1.0% during the fourth quarter. Sara Bay Financial now owns 28,250 shares of the social networking company's stock worth $16,703,000 after buying an additional 287 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Raymond James cut their target price on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. UBS Group upped their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup upped their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Oppenheimer upped their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One equities 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 company. According to MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Meta Platforms Price Performance

Meta Platforms stock traded down $9.51 during midday trading on Friday, reaching $627.06. The company's stock had a trading volume of 8,442,469 shares, compared to its average volume of 14,494,704. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. 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's 50 day simple moving average is $574.80 and its 200 day simple moving average is $609.16. The firm has a market capitalization of $1.58 trillion, a PE ratio of 26.21, a P/E/G 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 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 company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the company earned $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on 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 $19,535,270. The trade was a 1.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, February 24th. The stock was sold at an average price of $686.28, for a total value of $417,258.24. Following the transaction, the chief operating officer now directly owns 9,270 shares of the company's stock, valued at $6,361,815.60. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,157 shares of company stock valued at $49,411,000. 13.71% of the stock is owned by company insiders.

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.