Tiptree Advisors LLC Acquires Shares of 24,000 Meta Platforms, Inc. (NASDAQ:META)

Tiptree Advisors LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 24,000 shares of the social networking company's stock, valued at approximately $14,052,000. Meta Platforms accounts for about 14.6% of Tiptree Advisors LLC's portfolio, making the stock its biggest position.

A number of other large investors also recently made changes to their positions in META. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC lifted its stake in Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares in the last quarter. Capital World Investors raised its holdings in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after buying an additional 1,141,355 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Meta Platforms during the 4th quarter worth $19,949,512,000. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. The trade was a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the sale, the chief operating officer now directly owns 5,622 shares of the company's stock, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,628 shares of company stock worth $48,380,586 over the last 90 days. Company insiders own 13.71% of the company's stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $15.26 during midday trading on Tuesday, reaching $642.32. 9,473,309 shares of the company were exchanged, compared to its average volume of 14,474,756. The stock has a market cap of $1.62 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The business's fifty day moving average is $575.66 and its two-hundred day moving average is $609.55. Meta Platforms, Inc. has a one year low of $442.65 and a one year 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.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $42.31 billion during 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%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.71 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank of Canada reissued an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. Evercore ISI raised their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Finally, Rosenblatt Securities increased their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms 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.