3,118 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Sunbeam Capital Management LLC

Sunbeam Capital Management LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,118 shares of the social networking company's stock, valued at approximately $1,825,000. Meta Platforms makes up about 1.7% of Sunbeam Capital Management LLC's holdings, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of META. Challenger Wealth Management acquired a new position in Meta Platforms during the fourth quarter worth $501,000. Ascent Group LLC raised its holdings in Meta Platforms by 11.8% during the fourth quarter. Ascent Group LLC now owns 37,351 shares of the social networking company's stock valued at $21,869,000 after buying an additional 3,939 shares in the last quarter. Aberdeen Wealth Management LLC raised its holdings in Meta Platforms by 0.9% during the fourth quarter. Aberdeen Wealth Management LLC now owns 2,212 shares of the social networking company's stock valued at $1,295,000 after buying an additional 20 shares in the last quarter. Putney Financial Group LLC bought a new position in Meta Platforms during the fourth quarter valued at about $216,000. Finally, Perennial Advisors LLC bought a new position in Meta Platforms during the fourth quarter valued at about $2,294,000. Institutional investors own 79.91% of the company's stock.

Insider Activity

In other news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $673.96, for a total transaction of $409,767.68. Following the completion of the transaction, the chief operating officer now owns 8,662 shares of the company's stock, valued at $5,837,841.52. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,628 shares of company stock worth $34,826,386. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

NASDAQ META traded up $1.79 during trading on Thursday, reaching $645.37. 5,262,093 shares of the company traded hands, compared to its average volume of 16,867,680. 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 moving average price is $577.74 and its two-hundred day moving average price is $610.01. The company has a market cap of $1.62 trillion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the business earned $4.71 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on META shares. Morgan Stanley raised their target price on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Moffett Nathanson raised their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Jefferies Financial Group cut their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. BMO Capital Markets raised their target price on Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Finally, Piper Sandler raised their price target on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently 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.