Strive Asset Management LLC Makes New $1.22 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Strive Asset Management LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,081 shares of the social networking company's stock, valued at approximately $1,218,000. Meta Platforms accounts for 0.9% of Strive Asset Management LLC's portfolio, making the stock its 25th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter valued at $19,949,512,000. Proficio Capital Partners LLC grew its holdings in shares of Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after buying an additional 6,240,810 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $2,243,603,000. Northern Trust Corp grew its holdings in shares of Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Meta Platforms by 27.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock valued at $5,211,967,000 after buying an additional 1,892,509 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Down 0.5%

Shares of META stock opened at $640.34 on Friday. 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 $571.37 and its 200-day moving average is $606.82. The stock 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. 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 released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business's revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.71 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on META. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Loop Capital upped their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research note on Friday. Wedbush upped their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. Finally, Guggenheim upped their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. 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 Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $703.21, for a total transaction of $13,830,734.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares in the company, valued at $2,744,547.96. This represents a 9.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,852 shares of company stock worth $41,665,958 in the last quarter. Corporate insiders own 13.71% of the company's stock.

About Meta Platforms

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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