Texas Bank & Trust Co Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Texas Bank & Trust Co purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 606 shares of the social networking company's stock, valued at approximately $355,000.

Several other large investors also recently bought and sold shares of META. Regent Peak Wealth Advisors LLC raised its stake in shares of Meta Platforms by 5.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock valued at $2,939,000 after acquiring an additional 277 shares during the period. Fjell Capital LLC bought a new position in Meta Platforms during the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $325,000. Daner Wealth Management LLC bought a new stake in Meta Platforms in the fourth quarter worth about $334,000. Finally, Eagle Rock Investment Company LLC boosted its position in shares of Meta Platforms by 5.7% during the fourth quarter. Eagle Rock Investment Company LLC now owns 30,644 shares of the social networking company's stock valued at $17,942,000 after buying an additional 1,648 shares during the period. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of META stock traded down $3.33 during trading hours on Tuesday, hitting $637.10. The company's stock had a trading volume of 6,716,460 shares, compared to its average volume of 14,506,492. The stock has a market cap of $1.60 trillion, a PE ratio of 26.63, 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 50 day moving average of $572.72 and a 200 day moving average of $607.81. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm's revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.71 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total transaction of $453,012.27. Following the sale, the insider now owns 27,498 shares in the company, valued at approximately $13,525,441.26. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 2,615 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $1,724,226.40. Following the completion of the transaction, the chief operating officer now owns 5,437 shares of the company's stock, valued at approximately $3,584,940.32. This trade represents a 32.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,837 shares of company stock valued at $64,758,661 over the last ninety days. Company insiders own 13.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on META. Morgan Stanley raised their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Piper Sandler boosted their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Rosenblatt Securities raised their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Moffett Nathanson boosted their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Bank of America upped their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Company 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.