Temasek Holdings Private Ltd Sells 234,998 Shares of Meta Platforms, Inc. (NASDAQ:META)

Temasek Holdings Private Ltd lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 41.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 332,559 shares of the social networking company's stock after selling 234,998 shares during the period. Meta Platforms makes up 0.8% of Temasek Holdings Private Ltd's portfolio, making the stock its 25th biggest position. Temasek Holdings Private Ltd's holdings in Meta Platforms were worth $194,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms in the fourth quarter valued at approximately $47,000. Finally, Cordant Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

NASDAQ:META opened at $640.34 on Friday. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 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 firm's 50-day simple moving average is $571.37 and its 200 day simple moving average is $606.82. The firm has a market cap of $1.61 trillion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results 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. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the firm earned $4.71 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on META. Oppenheimer raised their price objective on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. DA Davidson dropped their price target on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. Monness Crespi & Hardt upped their price objective on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, JMP Securities restated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. One research 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. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total value of $677,920.47. Following the transaction, the insider now owns 35,787 shares in the company, valued at approximately $26,341,737.09. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $736.07, for a total value of $447,530.56. Following the completion of the transaction, the chief operating officer now directly owns 9,878 shares of the company's stock, valued at approximately $7,270,899.46. This trade represents a 5.80% 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 90 days. Company 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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