ThornTree Capital Partners LP Has $52.61 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

ThornTree Capital Partners LP lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 122.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,856 shares of the social networking company's stock after acquiring an additional 49,414 shares during the period. Meta Platforms accounts for about 6.8% of ThornTree Capital Partners LP's investment portfolio, making the stock its largest position. ThornTree Capital Partners LP's holdings in Meta Platforms were worth $52,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Regent Peak Wealth Advisors LLC raised its position in 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 purchasing an additional 277 shares during the period. Fjell Capital LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $1,836,000. Opulen Financial Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $325,000. Brady Family Wealth LLC raised its holdings in shares of Meta Platforms by 14.1% during the 4th quarter. Brady Family Wealth LLC now owns 2,671 shares of the social networking company's stock valued at $1,564,000 after buying an additional 331 shares during the period. Finally, Mason & Associates Inc lifted its position in Meta Platforms by 28.5% during the 4th quarter. Mason & Associates Inc now owns 1,372 shares of the social networking company's stock worth $803,000 after acquiring an additional 304 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. This represents 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, insider Jennifer Newstead sold 921 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $665.75, for a total transaction of $613,155.75. Following the transaction, the insider now owns 34,866 shares in the company, valued at approximately $23,212,039.50. The trade was a 2.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,837 shares of company stock worth $64,758,661. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Down 0.5%

Shares of META stock traded down $3.33 during trading on Tuesday, reaching $637.10. The company's stock had a trading volume of 6,716,460 shares, compared to its average volume of 14,506,516. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The business has a fifty day moving average price of $571.79 and a 200-day moving average price of $607.61. The company has a market cap of $1.60 trillion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current 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 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the firm earned $4.71 EPS. The business's quarterly revenue was up 16.1% on a year-over-year basis. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on META. Wells Fargo & Company decreased their price target on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Benchmark decreased their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. KeyCorp boosted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Guggenheim raised their target price on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note 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 company. According to data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average 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.