Tiptree Advisors LLC Makes New $14.05 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Tiptree Advisors LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,000 shares of the social networking company's stock, valued at approximately $14,052,000. Meta Platforms comprises 14.6% of Tiptree Advisors LLC's investment portfolio, making the stock its biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in Meta Platforms in the fourth quarter valued at $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms in the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms in the fourth quarter valued at $45,000. Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms in the fourth quarter valued at $47,000. Finally, Conquis Financial LLC bought a new stake in Meta Platforms in the fourth quarter valued at $59,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total value of $329,824.50. Following the completion of the sale, the insider now owns 30,740 shares of the company's stock, valued at approximately $19,535,270. This trade represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,628 shares of company stock worth $48,380,586. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Up 0.2%

Shares of Meta Platforms stock traded up $1.26 during trading on Wednesday, hitting $643.58. 8,867,678 shares of the stock traded hands, compared to its average volume of 14,452,485. The stock has a market cap of $1.62 trillion, a P/E ratio of 26.91, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a fifty day moving average price of $576.79 and a two-hundred day moving average price of $609.77.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the company earned $4.71 EPS. The firm's revenue was up 16.1% on a year-over-year basis. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on META. JMP Securities reiterated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. Susquehanna cut their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. KeyCorp raised their target price on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. BMO Capital Markets lifted their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. Finally, TD Securities dropped their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.