Tairen Capital Ltd decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 77.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,900 shares of the social networking company's stock after selling 263,030 shares during the period. Meta Platforms makes up about 6.6% of Tairen Capital Ltd's holdings, making the stock its 5th largest holding. Tairen Capital Ltd's holdings in Meta Platforms were worth $45,026,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Valley Financial Group Inc. raised its position in Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after purchasing an additional 14 shares in the last quarter. Seelaus Asset Management LLC raised its position in Meta Platforms by 0.9% during the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after purchasing an additional 15 shares in the last quarter. Meredith Wealth Planning raised its position in Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after purchasing an additional 15 shares in the last quarter. Maiden Cove Capital LLC raised its position in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares in the last quarter. Finally, Riverwater Partners LLC raised its position in Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 79.91% of the company's stock.
Insider Activity
In other news, COO Javier Olivan sold 406 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at $2,265,707.52. This represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 907 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $645.77, for a total value of $585,713.39. Following the completion of the sale, the insider now owns 24,749 shares of the company's stock, valued at $15,982,161.73. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,852 shares of company stock valued at $41,665,958 in the last ninety days. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Stock Performance
META stock opened at $640.34 on Friday. 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. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $571.37 and its 200 day simple moving average is $606.82.
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 return on equity of 38.17% and a net margin of 37.91%. The company's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.71 EPS. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Analyst Ratings Changes
META has been the topic of several analyst reports. Arete Research upgraded Meta Platforms to a "hold" rating in a report on Friday, January 24th. Bank of America boosted their price target on Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Monness Crespi & Hardt boosted their price target on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. KeyCorp boosted their price target on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company reduced their price target on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a 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 given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $701.05.
Check Out Our Latest Research Report on Meta Platforms
Meta Platforms Company Profile
(
Free Report)
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.
Further Reading
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