Meta Platforms, Inc. (NASDAQ:META) Shares Sold by TenCore Partners LP

TenCore Partners LP cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,072 shares of the social networking company's stock after selling 6,895 shares during the quarter. Meta Platforms comprises about 16.2% of TenCore Partners LP's investment portfolio, making the stock its 2nd largest position. TenCore Partners LP's holdings in Meta Platforms were worth $32,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the 4th quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $47,000. Finally, Cordant Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares in the company, valued at $209,199,589.06. The trade was a 6.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.72, for a total value of $330,457.68. Following the sale, the insider now owns 31,259 shares of the company's stock, valued at $19,903,230.48. This represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,837 shares of company stock worth $64,758,661 in the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Down 0.5%

NASDAQ META traded down $3.33 during trading hours on Tuesday, hitting $637.10. The company had a trading volume of 6,716,460 shares, compared to its average volume of 14,506,516. The firm's 50 day moving average is $571.79 and its 200 day moving average is $607.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. 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 market capitalization of $1.60 trillion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates 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 for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.71 earnings per share. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

META has been the subject of several research reports. Bank of America lifted their price objective on Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. TD Securities reduced their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird increased their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock 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 issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

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.